Benchmark Cuts J & J Snack Foods (NASDAQ:JJSF) Price Target to $120.00

J & J Snack Foods (NASDAQ:JJSF) had its price target decreased by Benchmark from $130.00 to $120.00 in a research report report published on Monday,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research analysts have also commented on JJSF. Weiss Ratings reissued a “sell (d+)” rating on shares of J & J Snack Foods in a report on Friday, March 27th. Zacks Research lowered J & J Snack Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $120.00.

J & J Snack Foods Stock Performance

JJSF stock opened at $71.57 on Monday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 24.02 and a beta of 0.43. J & J Snack Foods has a 1 year low of $68.87 and a 1 year high of $129.24. The stock’s fifty day moving average is $80.53 and its two-hundred day moving average is $86.39.

J & J Snack Foods (NASDAQ:JJSF) last posted its earnings results on Wednesday, May 6th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $344.82 million for the quarter, compared to analysts’ expectations of $349.67 million. J & J Snack Foods had a return on equity of 9.01% and a net margin of 3.75%.The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. As a group, analysts predict that J & J Snack Foods will post 4.16 EPS for the current fiscal year.

J & J Snack Foods declared that its board has initiated a share repurchase program on Tuesday, February 3rd that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in J & J Snack Foods by 485.1% during the fourth quarter. Allworth Financial LP now owns 275 shares of the company’s stock worth $25,000 after acquiring an additional 228 shares during the period. Global Retirement Partners LLC boosted its position in shares of J & J Snack Foods by 1,133.3% in the 4th quarter. Global Retirement Partners LLC now owns 333 shares of the company’s stock valued at $30,000 after purchasing an additional 306 shares during the period. IFP Advisors Inc boosted its position in shares of J & J Snack Foods by 1,450.0% in the 4th quarter. IFP Advisors Inc now owns 341 shares of the company’s stock valued at $31,000 after purchasing an additional 319 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of J & J Snack Foods by 58.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 404 shares of the company’s stock valued at $36,000 after purchasing an additional 149 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of J & J Snack Foods by 897.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 439 shares of the company’s stock valued at $40,000 after purchasing an additional 395 shares during the period. 76.04% of the stock is owned by institutional investors and hedge funds.

About J & J Snack Foods

J & J Snack Foods (NASDAQ: JJSF) is a U.S.-based manufacturer and distributor of branded snack foods and frozen beverages. Headquartered in Pennsauken, New Jersey, the company develops, produces and markets a broad array of proprietary and licensed products for retail, concession and foodservice customers. Its offerings span soft pretzels, frozen novelties, real Italian ice, churros and packaged beverages under well-known names such as ICEE, SuperPretzel, Luigi’s and ChurroMan.

Founded in 1971 by Gerald B.