J&J Snack Foods Corp. (NASDAQ:JJSF) Senior Vice President of Operations, Robert Cranmer, has sold a total of $369,110 worth of common stock, according to a recent SEC filing. The transactions took place on May 9, 2024, with prices for the sold shares ranging from $162.03 to $162.98.
The filing revealed that Cranmer sold 2,271 shares at an average price of $162.03 and another 7 shares at an average price of $162.98. These sales were in addition to the disposition of 1,140 shares at a price of $162.61, held indirectly through a 401K Profit Sharing Plan, bringing the total value of direct and indirect sales to $369,110.
On the same day, Cranmer also acquired 1,500 shares of J&J Snack Foods Corp. common stock at a price of $125.83 per share, totaling $188,745. This transaction was indicated as an option exercise, which is a common practice for company executives to convert their options into shares.
Following these transactions, the SEC filing disclosed that Cranmer now directly owns 872 shares of common stock, in addition to 1,416 shares held indirectly through his retirement plan.
Investors often monitor insider buying and selling as it can provide insights into a company's financial health and executive confidence. For J&J Snack Foods Corp., these recent transactions by a key executive may be of particular interest to current and potential shareholders.
J&J Snack Foods Corp., known for its portfolio of popular snack foods and beverages, is headquartered in Mount Laurel, New Jersey, and is a leader in the cookies and crackers industry. The company's stock performance and insider trading activities are closely watched by investors seeking to gauge market sentiment and company outlook.
InvestingPro Insights
As investors analyze the recent insider trading activity of J&J Snack Foods Corp.'s Senior Vice President of Operations, Robert Cranmer, it's important to consider the broader financial context of the company. According to the latest data available, J&J Snack Foods Corp. boasts a market capitalization of $3.16 billion, highlighting its substantial presence in the snack food industry.
One of the key metrics that stands out is the company's price-to-earnings (P/E) ratio, which currently stands at 36.6. This figure suggests that investors are willing to pay a premium for earnings, potentially due to expectations of future growth or the company's strong historical performance. Additionally, J&J Snack Foods has shown a robust revenue growth of 7.34% over the last twelve months as of Q2 2024, indicating a healthy expansion in its business operations.
Two InvestingPro Tips that may be particularly relevant given the insider transactions are that JJSF has maintained dividend payments for 21 consecutive years and significant return over the last week, with a price total return of 18.48%. These points could signal confidence in the company's financial stability and short-term positive momentum, respectively, which might be factors in Cranmer's recent trading decisions.
For those interested in a deeper dive into J&J Snack Foods Corp.'s financial health and future outlook, there are an additional 12 InvestingPro Tips available, which can be accessed by visiting InvestingPro's JJSF page. And to make this exploration even more beneficial, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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