John B. Sanfilippo & Son (NASDAQ:JBSS) Shares Gap Down Following Weak Earnings

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $81.30, but opened at $75.50. John B. Sanfilippo & Son shares last traded at $75.7550, with a volume of 19,108 shares traded.

The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.46). The company had revenue of $280.43 million during the quarter, compared to analysts’ expectations of $274.87 million. John B. Sanfilippo & Son had a net margin of 5.76% and a return on equity of 18.11%.

John B. Sanfilippo & Son Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a $1.05 dividend. The ex-dividend date is Monday, August 17th. John B. Sanfilippo & Son’s dividend payout ratio (DPR) is currently 16.67%.

Analyst Ratings Changes

Several research analysts recently commented on JBSS shares. Wall Street Zen lowered shares of John B. Sanfilippo & Son from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Freedom Capital upgraded shares of John B. Sanfilippo & Son to a “hold” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of John B. Sanfilippo & Son from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $109.00.

Institutional Investors Weigh In On John B. Sanfilippo & Son

A number of institutional investors and hedge funds have recently modified their holdings of JBSS. EverSource Wealth Advisors LLC boosted its position in John B. Sanfilippo & Son by 1,238.7% in the second quarter. EverSource Wealth Advisors LLC now owns 415 shares of the company’s stock valued at $26,000 after buying an additional 384 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in John B. Sanfilippo & Son during the 2nd quarter worth approximately $32,000. Quarry LP purchased a new position in John B. Sanfilippo & Son during the 3rd quarter worth approximately $32,000. Sound Income Strategies LLC lifted its stake in John B. Sanfilippo & Son by 150.9% during the 1st quarter. Sound Income Strategies LLC now owns 404 shares of the company’s stock valued at $33,000 after acquiring an additional 243 shares during the period. Finally, Leonteq Securities AG acquired a new stake in John B. Sanfilippo & Son during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.64% of the company’s stock.

John B. Sanfilippo & Son Price Performance

The firm’s fifty day moving average price is $83.56 and its 200 day moving average price is $80.37. The firm has a market capitalization of $878.78 million, a PE ratio of 13.19 and a beta of 0.32. The company has a current ratio of 2.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.10.

John B. Sanfilippo & Son Company Profile

John B. Sanfilippo & Son, Inc is a family?held processor and marketer of tree nuts and snack nut products. Headquartered in Elgin, Illinois, the company operates manufacturing facilities, processing plants and sales offices across the United States and abroad. It supplies a broad range of channels, including retail, foodservice, industrial and private?label customers.

The company’s product portfolio spans in?shell and shelled pecans, walnuts, almonds, cashews, pistachios and peanuts, as well as mixed?nut blends, chocolate?covered treats, granolas and specialty snack items.