Pennsauken, New Jersey based J&J Snack Foods Corp. operates in the snack food industry. The Company provides nutritional branded niche snack foods and beverages to foodservice and retail supermarket outlets. It sells its products via a network of food brokers and independent sales distributors, and a direct sales force. The Company is doing significantly more modern marketing, such as digital, including social, online. J&J operates through Food Service, Retail Supermarkets, and Frozen Beverages segments.
The Company’s main products include SuperPretzel, Pretzel Fillers and other soft pretzels, Icee, Slush Puppie and Arctic Blast frozen beverages, and Luigi’s, Minute Maid (a registered trademark of the Coca-Cola Company) frozen juice bars and ices. Its principal products also include Whole Fruit Organic juice tubes, fruit bars and sorbet, Tio Pepe’s and California Churros churros, The Funnel Cake Factory funnel cakes, and a number of cookie brands within Country Home Bakers.
In 1973, the SuperPretzel Soft Pretzel trademark was registered. In 1980-1981, Churro product rights and assets were obtained from a subsidiary of Rapid American Corp.; Tio Pepe’s Churros are created. In 1993, J&J’s new, modern 104,000 square foot state-of-the-art distribution center opened in the Pennsauken facility.
In 2000, the Company unveiled a line of frozen dessert products under the Minute Maid brand. In addition, in 2001, J&J Snack Foods acquired Uptown Bakeries, a manufacturer of fresh bakery products, including bagels, donuts, muffins and other products sold to Wawa, Inc, a convenience food retailer.
In 2012, J&J acquired Kim & Scott’s Gourmet Pretzels in Chicago, Illinois. In 2013, the Company acquired New York Pretzel located in Brooklyn, New York. In 2014, it announced OREO® Churros to the Foodservice Industry across the country. Furthermore, in 2014, J&J acquired Philly Famous Water Ice, Inc. (Philly Swirl) in Tampa, Florida.
This past October, J&J Snack Foods announced that it supplies the Dairy Queen system with oven-hot soft pretzel sticks with zesty queso. This is an extension to the DQ Bakes!® Snack Menu. The soft pretzel sticks were developed exclusively for the Dairy Queen menu. The soft and chewy soft pretzel rods have a golden-brown exterior. Moreover, they are brushed with blended salt and butter oil.
For Q4 2016, J&J Snack Foods’ net sales grew 1 percent and 2 percent for the year. For Q4, the Company’s net earnings rose by 4 percent to $20.6 million or $1.10 a share from $19.8 million or $1.05 a share from the year prior. For the year, J&J’s net earnings grew by 8 percent to $76 million, $4.05 a share, from $70.2 million or $3.73 a share in 2015.
Last week, J & J Snack Foods announced that its Board declared a regular quarterly cash dividend of $.42 per share of its common stock. This cash dividend of $.42 per share represents an increase of 7.7 percent from the prior quarterly dividend rate of $.39 per share.
The Company’s dividend is $1.68 and its dividend yield is 1.25%. J&J Snack Foods has increased its dividend every year for 10 consecutive years – 40 straight quarters.