J & J Snack Foods Corp (JJSF) Announces Quarterly Dividend of $0.50
J & J Snack Foods Corp (NASDAQ:JJSF) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Tuesday, December 18th will be paid a dividend of 0.50 per share on Friday, January 4th. This represents a $2.00 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, December 17th. This is a boost from J & J Snack Foods’s previous quarterly dividend of $0.45.
J & J Snack Foods has increased its dividend by an average of 9.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. J & J Snack Foods has a payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect J & J Snack Foods to earn $5.26 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 38.0%.
Shares of JJSF opened at $153.74 on Friday. J & J Snack Foods has a 12-month low of $125.98 and a 12-month high of $162.80. The firm has a market cap of $2.89 billion, a P/E ratio of 36.26, a PEG ratio of 3.14 and a beta of 0.41.
In related news, insider Gerald B. Shreiber sold 2,435 shares of the firm’s stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $156.29, for a total transaction of $380,566.15. Following the transaction, the insider now directly owns 3,563,985 shares in the company, valued at $557,015,215.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Joseph Pape sold 2,100 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $153.68, for a total value of $322,728.00. Following the transaction, the insider now owns 12,281 shares in the company, valued at $1,887,344.08. The disclosure for this sale can be found here. Company insiders own 21.00% of the company’s stock.
Several equities analysts recently issued reports on JJSF shares. Zacks Investment Research cut J & J Snack Foods from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. BidaskClub upgraded J & J Snack Foods from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $145.50.
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About J & J Snack Foods
J&J Snack Foods Corp. manufactures, markets, and distributes various nutritional snack foods and beverages to the food service and retail supermarket industries in the United States, Mexico, and Canada. The company operates through three segments: Food Service, Retail Supermarkets, and Frozen Beverages.
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