J&J Snack Foods Corp. (NASDAQ:JJSF) Raises Dividend to $0.78 Per Share

J&J Snack Foods Corp. (NASDAQ:JJSF) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Tuesday, September 17th will be given a dividend of 0.78 per share on Tuesday, October 8th. This represents a $3.12 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, September 17th. This is a boost from J&J Snack Foods’s previous quarterly dividend of $0.74.

J&J Snack Foods has raised its dividend payment by an average of 7.7% per year over the last three years and has increased its dividend every year for the last 19 years. J&J Snack Foods has a payout ratio of 48.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect J&J Snack Foods to earn $5.96 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 49.3%.

J&J Snack Foods Stock Performance

J&J Snack Foods stock traded down $2.20 during midday trading on Friday, reaching $167.58. 10,381 shares of the company’s stock were exchanged, compared to its average volume of 92,416. The stock’s 50-day simple moving average is $165.84 and its 200 day simple moving average is $154.10. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 38.04 and a beta of 0.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 2.41. J&J Snack Foods has a 52 week low of $133.23 and a 52 week high of $176.38.

J&J Snack Foods (NASDAQ:JJSF) last released its quarterly earnings data on Monday, August 5th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.01). The business had revenue of $439.96 million during the quarter, compared to analyst estimates of $440.92 million. J&J Snack Foods had a net margin of 5.45% and a return on equity of 10.71%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 earnings per share. On average, analysts expect that J&J Snack Foods will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

J&J Snack Foods Company Profile

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.