The Vanguard Group, Inc. recently announced the acquisition of new stake in J&J Snack Foods Corp. (NASDAQ:JJSF). The institutional investor has increased its shareholding in the Consumer Defensive company by 1.85% to 1.52 million shares with purchase of 27641.0 shares. This fresh investment now brings its stake to 7.90% valued currently at $227.29 million. In addition, Allspring Global Investments LLC raised its holdings by 24205.0 to 1.33 million shares. And Macquarie Investment Management B has lifted its position by 7.47% or 89361.0 shares – to 1.29 million shares.
With over 83925.0 J&J Snack Foods Corp. (JJSF) shares trading Tuesday and a closing price of $150.15 on the day, the dollar volume was approximately $12.6 million. The shares have shown a positive half year performance of 11.18% and its price on 01/24/23 gained nearly 3.84%. Currently, there are 19.20M common shares owned by the public and among those 15.53M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for JJSF have a consensus price objective of $170.25. The analysts have set the share’s price value over the next 12 months at a high of $180.00 and a low of $156.00. The average price target is 11.81% above its recent price level and an upside to the estimated low will see the stock gain 3.75% over that period. But an upside of 16.58% will see the stock hit the forecast high price target while median target price for the stock is $172.50.
Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 64,203 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 76,264 shares.
The top 3 mutual fund holders in J&J Snack Foods Corp. are iShares Core S&P Small Cap ETF, Allspring Special Small Cap Value, and Delaware Small Cap Core Fund. iShares Core S&P Small Cap ETF owns 1.11 million shares of the company’s stock, all valued at over $165.51 million. The company sold 2688.0 shares recently to bring their total holdings to about 5.75% of the shares outstanding. Allspring Special Small Cap Value sold 18800.0 shares to see its total holdings shrink to 1.0 million shares valued at over $149.23 million and representing 5.19% of the shares outstanding. Delaware Small Cap Core Fund bought 27761.0 shares to bring its total holdings to over 0.48 million shares at a value of $71.86 million. Delaware Small Cap Core Fund now owns shares totaling to 2.50% of the shares outstanding.
Shares of J&J Snack Foods Corp. (NASDAQ: JJSF) opened at $144.71, up $0.11 from a prior closing price of $144.60. However, the script later moved the day high at 150.26, up 3.84%. The company’s stock has a 5-day price change of -2.64% and 8.33% over the past three months. JJSF shares are trading 0.29% year to date (YTD), with the 12-month market performance up to 0.04% higher. It has a 12-month low price of $117.45 and touched a high of $165.90 over the same period. JJSF has an average intraday trading volume of 79.85K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.35%, -2.26%, and 5.09% respectively.
Institutional ownership of J&J Snack Foods Corp. (NASDAQ: JJSF) shares accounts for 78.60% of the company’s 19.20M shares outstanding. Mutual fund holders own 28.20%, while other institutional holders and individual stakeholders account for 51.22% and 23.68% respectively.
It has a market capitalization of $2.95B and a beta (3y monthly) value of 0.56. The stock’s trailing 12-month PE ratio is 61.11, while the earnings-per-share (ttm) stands at $2.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.66% over the week and 2.54% over the month.
Analysts forecast that J&J Snack Foods Corp. (JJSF) will achieve an EPS of $0.89 for the current quarter, $0.91 for the next quarter and $4.87 for 2023. The lowest estimate earnings-per-share for the quarter is $0.8 while analysts give the company a high EPS estimate of $0.95. Comparatively, EPS for the current quarter was $0.99 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.40%, and 18.52% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate J&J Snack Foods Corp. (JJSF) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 2 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the JJSF, a number of firms have released research notes about the stock. The Benchmark Company stated their Buy rating for the stock in a research note on December 08, 2021, with the firm’s price target at $171. CL King coverage for the J&J Snack Foods Corp. (JJSF) stock in a research note released on May 12, 2020 offered a Buy rating with a price target of $140. KeyBanc Capital Mkts on their part issued Sector Weight rating on March 28, 2018.
