J & J Snack Foods Corp. (NASDAQ:JJSF) declared that its board has approved a share repurchase program, which permits the company to repurchase 500,000 outstanding shares on Friday, August 4th, EventVestor reports. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
J & J Snack Foods Corp. (NASDAQ JJSF) opened at 128.27 on Friday. The firm has a market cap of $2.40 billion, a P/E ratio of 31.99 and a beta of 0.72. J & J Snack Foods Corp. has a 12-month low of $102.81 and a 12-month high of $143.21. The company has a 50-day moving average price of $131.05 and a 200-day moving average price of $132.43.
J & J Snack Foods Corp. (NASDAQ:JJSF) last released its earnings results on Monday, July 24th. The company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by $0.15. The firm had revenue of $295.40 million during the quarter, compared to the consensus estimate of $297.83 million. J & J Snack Foods Corp. had a net margin of 7.33% and a return on equity of 11.55%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.43 EPS. On average, analysts predict that J & J Snack Foods Corp. will post $4.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Thursday, September 14th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, September 13th. J & J Snack Foods Corp.’s payout ratio is 41.90%.
A number of equities analysts recently commented on JJSF shares. BidaskClub upgraded J & J Snack Foods Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research downgraded J & J Snack Foods Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 26th.
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In other J & J Snack Foods Corp. news, insider Robert Joseph Pape sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $131.29, for a total value of $393,870.00. Following the sale, the insider now owns 15,221 shares in the company, valued at approximately $1,998,365.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.00% of the company’s stock.
About J & J Snack Foods Corp.
J & J Snack Foods Corp. is a manufacturer, marketer and distributor of a range of snack foods and beverages for the food service and retail supermarket industries. The Company operates in three business segments: Food Service, Retail Supermarkets and Frozen Beverages. Its portfolio of products includes soft pretzels, frozen beverages, frozen juice treats and desserts, stuffed sandwiches, burritos, churros, fruit pies, funnel cakes, cookies and bakery goods, and other snack foods and drinks.
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