Marjorie Shreiber Roshkoff, a director and ten percent owner at J&J Snack Foods Corp (NASDAQ:JJSF), recently sold a portion of her holdings in the company. According to a recent filing, Roshkoff executed multiple transactions on November 15, 2024, selling a total of 625 shares of common stock.
These transactions, carried out under a pre-established 10b5-1 trading plan, were completed at prices ranging from $158.70 to $165.67 per share. The total value of these sales amounted to $100,550.
Following these transactions, Roshkoff's direct ownership in J&J Snack Foods stands at 67,584 shares. Additionally, she holds indirect interests in over 3.7 million shares through various trusts and custodian accounts, as detailed in the filing.
In other recent news, J&J Snack Foods reported strong fiscal 2024 results with record annual sales and a 10.2% increase in adjusted EBITDA. The company also saw an improvement in adjusted EBITDA margins to 30.9%, despite facing challenges such as inflation and consumer uncertainty. These developments were discussed in the fiscal 2024 Fourth Quarter Conference Call, led by CEO Dan Fachner and CFO Ken Plunk.
The company also announced the upcoming retirement of CFO Ken Plunk, with plans to appoint a new CFO by the end of the year. J&J Snack Foods maintained a strong financial position, holding $73.4 million in cash with no debt.
Looking ahead, the company is optimistic about the launch of a new Dippin' Dots retail product and expects further growth in key segments like Foodservice, Retail, and Frozen Beverage in fiscal 2025. The company aims to improve its gross margin to over 31% in fiscal 2025, and projects potential to double sales in the retail segment. Despite some challenges, J&J Snack Foods remains committed to driving growth and profitability.
InvestingPro Insights
In light of Marjorie Shreiber Roshkoff's recent stock sale, it's worth examining some key financial metrics and insights for J&J Snack Foods Corp (NASDAQ:JJSF). According to InvestingPro data, the company currently has a market capitalization of $3.21 billion and trades at a P/E ratio of 37.11, which is considered relatively high.
An InvestingPro Tip highlights that JJSF's stock has taken a significant hit over the last week, with a 1-week price total return of -8.43%. This recent downturn aligns with the timing of Roshkoff's stock sale, potentially indicating a broader market sentiment shift or company-specific concerns.
Despite the recent stock performance, J&J Snack Foods has demonstrated a strong commitment to shareholder returns. Another InvestingPro Tip notes that the company has raised its dividend for 20 consecutive years, showcasing a consistent focus on returning value to shareholders. This long-term dividend growth trend may provide some reassurance to investors in the face of short-term stock price fluctuations.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights beyond what's mentioned here. In fact, there are 10 more InvestingPro Tips available for J&J Snack Foods, providing a deeper understanding of the company's financial health and market position.
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