J&J Snack Foods Corp. (NASDAQ:JJSF) Sees Significant Decrease in Short Interest

J&J Snack Foods Corp. (NASDAQ:JJSF) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 620,500 shares, a decline of 9.7% from the October 15th total of 686,900 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average trading volume of 71,100 shares, the short-interest ratio is presently 8.7 days.

Insiders Place Their Bets

In related news, Director Gerald B. Shreiber sold 20,000 shares of the business’s stock in a transaction on Saturday, August 31st. The shares were sold at an average price of $167.95, for a total value of $3,359,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On J&J Snack Foods

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of J&J Snack Foods by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 1,636,305 shares of the company’s stock worth $236,544,000 after buying an additional 71,378 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in J&J Snack Foods by 3.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,620,378 shares of the company’s stock valued at $278,899,000 after purchasing an additional 57,887 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in J&J Snack Foods by 19.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 642,648 shares of the company’s stock valued at $110,612,000 after purchasing an additional 106,817 shares during the last quarter. State Street Corp lifted its position in J&J Snack Foods by 2.9% in the 3rd quarter. State Street Corp now owns 602,295 shares of the company’s stock valued at $104,140,000 after purchasing an additional 17,062 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in J&J Snack Foods by 22.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 542,945 shares of the company’s stock valued at $78,488,000 after purchasing an additional 99,264 shares during the last quarter. 76.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of J&J Snack Foods in a research note on Friday.

J&J Snack Foods Price Performance

JJSF stock opened at $165.38 on Tuesday. The company’s 50 day simple moving average is $168.41 and its 200-day simple moving average is $166.50. The firm has a market capitalization of $3.21 billion, a PE ratio of 37.16 and a beta of 0.63. J&J Snack Foods has a 12 month low of $133.23 and a 12 month high of $180.80.

J&J Snack Foods (NASDAQ:JJSF) last announced its quarterly earnings data on Wednesday, November 13th. The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.85 by ($0.25). The firm had revenue of $426.76 million for the quarter, compared to analysts’ expectations of $428.33 million. J&J Snack Foods had a net margin of 5.50% and a return on equity of 10.32%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. As a group, sell-side analysts anticipate that J&J Snack Foods will post 6.05 earnings per share for the current year.

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.