J & J Snack Foods (NASDAQ:JJSF) Stock Rating Lowered by Zacks Investment Research

J & J Snack Foods (NASDAQ:JJSF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “J&J Snack Foods Corporation is an American manufacturer, marketer, and distributor of branded niche snack foods and frozen beverages for the food service and retail supermarket industries. Manufactured and distributed nationwide, their principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MINUTE MAID frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S, CALIFORNIA CHURROS and OREO Churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several bakery brands within COUNTRY HOME BAKERS and HILL & VALLEY. “

A number of other research firms have also commented on JJSF. BidaskClub lowered J & J Snack Foods from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 8th. ValuEngine lowered J & J Snack Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Consumer Edge lowered J & J Snack Foods from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. J & J Snack Foods presently has a consensus rating of “Hold” and an average price target of $176.50.

JJSF traded up $2.08 during midday trading on Tuesday, reaching $185.79. 1,289 shares of the company’s stock traded hands, compared to its average volume of 85,247. The firm has a fifty day moving average of $185.27 and a two-hundred day moving average of $184.46. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 37.53 and a beta of 0.32. J & J Snack Foods has a 52 week low of $138.40 and a 52 week high of $196.84.

J & J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.09). The business had revenue of $311.87 million for the quarter, compared to the consensus estimate of $309.50 million. J & J Snack Foods had a net margin of 7.99% and a return on equity of 11.75%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. As a group, equities analysts predict that J & J Snack Foods will post 5.22 earnings per share for the current fiscal year.

In related news, Director Sidney R. Brown sold 1,400 shares of J & J Snack Foods stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $185.90, for a total transaction of $260,260.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gerald B. Shreiber sold 1,947 shares of J & J Snack Foods stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $187.92, for a total value of $365,880.24. The disclosure for this sale can be found here. 21.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of JJSF. BlackRock Inc. boosted its holdings in shares of J & J Snack Foods by 3.0% during the 2nd quarter. BlackRock Inc. now owns 2,238,141 shares of the company’s stock valued at $360,229,000 after buying an additional 64,779 shares in the last quarter. Vanguard Group Inc. grew its position in shares of J & J Snack Foods by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,767,892 shares of the company’s stock worth $284,543,000 after buying an additional 20,498 shares during the period. Macquarie Group Ltd. grew its position in shares of J & J Snack Foods by 3.7% in the 2nd quarter. Macquarie Group Ltd. now owns 782,338 shares of the company’s stock worth $125,918,000 after buying an additional 28,233 shares during the period. Bank of New York Mellon Corp increased its stake in shares of J & J Snack Foods by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,491 shares of the company’s stock worth $35,809,000 after acquiring an additional 5,365 shares in the last quarter. Finally, Copeland Capital Management LLC increased its stake in shares of J & J Snack Foods by 4.5% in the 3rd quarter. Copeland Capital Management LLC now owns 192,920 shares of the company’s stock worth $37,041,000 after acquiring an additional 8,389 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

J & J Snack Foods Company Profile

J & J Snack Foods Corp. manufactures, markets, and distributes nutritional snack foods and beverages in the United States, Mexico, and Canada. It operates in three segments: Food Service, Retail Supermarkets, and Frozen Beverages. The company offers soft pretzels under the SUPERPRETZEL, PRETZEL FILLERS, PRETZELFILS, GOURMET TWISTS, MR.

Read More: Why does a company issue an IPO?

Get a free copy of the Zacks research report on J & J Snack Foods (JJSF)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for J & J Snack Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J & J Snack Foods and related companies with MarketBeat.com's FREE daily email newsletter.