J&J Snack Foods Corp consistently ranks among the best food stocks to buy now. The company recently reported its fourth-quarter 2020 earnings. Revenues were down 19% year-on-year to $252 million. Net income also was down to $6.6 million from $26 million a year ago. The pandemic had a part to play in the drop in the financials. J&J Snack Foods revealed that about 66% of the company’s sales were to locations and venues that either sharply downsized their food operations or have shut down completely. The negative impact of the COVID crisis is expected to persist for some more time.
Full Year Results Beat Analyst Estimates
Even though the quarterly results weren’t great, the full-year numbers beat analyst estimates. Revenues came in at $1 billion, about 2.5% above analyst estimates. Earnings per share were also significantly above estimates. At $0.97 per share, the full-year earnings were almost 50% ahead of expectations. The handheld products segment was the only one that saw growth in 2020 and during the fourth-quarter of 2020. Management attributed the rise in handheld sales to a new item that J&J Snack Foods began to sell to warehouse club stores in August.
Performances Of The Top Food Stocks To Buy Right Now
J&J Snack Foods stock closed at $151.25 on 20th November 2020. The stock is up almost 15% for the past month and currently trades at a dividend yield of 1.52%. The stock has risen by 37% since the March market crash. Another food major Pepsico is up 2% for the past month. Its stock closed at $143.42 on 20th November 2020. Pepsico has also risen by about 37% since the March market fall. Meanwhile, Conagra Brands is down 3% for the past month. Its stock has gained 48% since hitting a low in March and the stock currently trades at a 3% dividend yield.