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

J&J Snack Foods Corp. (NASDAQ:JJSF) saw a significant decline in short interest during the month of 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. Based on an average daily volume of 71,100 shares, the days-to-cover ratio is currently 8.7 days. Approximately 4.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

J&J Snack Foods Price Performance

Shares of NASDAQ:JJSF opened at $161.77 on Monday. J&J Snack Foods has a 1 year low of $133.23 and a 1 year high of $180.80. The business’s 50-day moving average is $168.39 and its 200-day moving average is $166.31. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 36.35 and a beta of 0.63.

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

Insider Buying and Selling

In related news, Director Gerald B. Shreiber sold 20,000 shares of the company’s stock in a transaction that occurred on Saturday, August 31st. The stock was 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 SEC, which can be accessed through this hyperlink. 22.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On J&J Snack Foods

Several hedge funds and other institutional investors have recently bought and sold shares of JJSF. GAMMA Investing LLC grew its stake in shares of J&J Snack Foods by 603.8% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the company’s stock valued at $59,000 after buying an additional 314 shares during the period. Blue Trust Inc. grew its stake in J&J Snack Foods by 39,000.0% in the third quarter. Blue Trust Inc. now owns 391 shares of the company’s stock valued at $63,000 after acquiring an additional 390 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of J&J Snack Foods during the second quarter valued at approximately $76,000. Covestor Ltd raised its position in shares of J&J Snack Foods by 54,200.0% during the first quarter. Covestor Ltd now owns 543 shares of the company’s stock worth $78,000 after purchasing an additional 542 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of J&J Snack Foods in the 2nd quarter worth $114,000. 76.04% of the stock is owned by institutional investors.

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.