J&J Snack Foods (NASDAQ:JJSF) Shares Gap Down on Disappointing Earnings

J&J Snack Foods Corp. (NASDAQ:JJSF - Get Free Report)'s share price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $132.70, but opened at $126.64. J&J Snack Foods shares last traded at $120.46, with a volume of 46,098 shares trading hands.

The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.29). J&J Snack Foods had a net margin of 5.50% and a return on equity of 10.32%.

J&J Snack Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Tuesday, December 17th. J&J Snack Foods's payout ratio is 70.11%.

Wall Street Analyst Weigh In

Separately, Benchmark restated a "buy" rating and set a $200.00 target price on shares of J&J Snack Foods in a research report on Tuesday.

Hedge Funds Weigh In On J&J Snack Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JJSF. Millennium Management LLC lifted its position in J&J Snack Foods by 128.7% during the second quarter. Millennium Management LLC now owns 21,678 shares of the company's stock valued at $3,520,000 after purchasing an additional 12,198 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of J&J Snack Foods by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,512 shares of the company's stock worth $1,382,000 after acquiring an additional 262 shares during the last quarter. Algert Global LLC purchased a new position in J&J Snack Foods in the second quarter worth $254,000. Creative Planning increased its stake in J&J Snack Foods by 73.3% in the second quarter. Creative Planning now owns 4,597 shares of the company's stock valued at $746,000 after acquiring an additional 1,945 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in J&J Snack Foods during the second quarter valued at about $76,000. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

J&J Snack Foods Price Performance

The company has a 50 day simple moving average of $151.88 and a 200-day simple moving average of $162.78. The stock has a market cap of $2.38 billion, a P/E ratio of 27.49 and a beta of 0.64.

About J&J Snack Foods

J&J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. It operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages. It offers soft pretzels under the SUPERPRETZEL, SUPERPRETZEL BAVARIAN, NEW YORK PRETZEL, BAVARIAN BAKERY, and BRAUHAUS brands, as well as under the private labels; frozen novelty under the DIPPIN'DOTS, LUIGI'S, WHOLE FRUIT, DOGSTERS, PHILLY SWIRL, ICEE, and MINUTE MAID brands; churros under the HOLA! and CALIFORNIA CHURROS brands; and handheld products under the SUPREME STUFFERS and SWEET STUFFERS brands.