John B. Sanfilippo & Son (NASDAQ:JBSS) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded JBSS from “Buy” to “Hold.” Other analysts also maintain mostly neutral ratings, resulting in a consensus “Hold” rating and an average price target of $109.
• JBSS shares opened at $83.16, with a market capitalization of approximately $972 million and a 12-month trading range of $59.07 to $92.08.
• Institutional investors own 70.64% of the stock, with several hedge funds recently increasing or initiating positions.

John B. Sanfilippo & Son (NASDAQ:JBSS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also issued research reports about the company. Weiss Ratings raised John B. Sanfilippo & Son from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Freedom Capital raised John B. Sanfilippo & Son to a "hold" rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, John B. Sanfilippo & Son presently has a consensus rating of "Hold" and an average price target of $109.00.

John B. Sanfilippo & Son Stock Performance

Shares of JBSS stock opened at $83.16 on Friday. The company has a market cap of $972.14 million, a price-to-earnings ratio of 14.59 and a beta of 0.32. The stock has a 50 day simple moving average of $82.18 and a 200-day simple moving average of $79.79. John B. Sanfilippo & Son has a 12-month low of $59.07 and a 12-month high of $92.08. The company has a current ratio of 2.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of John B. Sanfilippo & Son by 1,238.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 415 shares of the company's stock worth $26,000 after acquiring an additional 384 shares in the last quarter. Quarry LP purchased a new position in John B. Sanfilippo & Son in the 3rd quarter valued at approximately $32,000. Sound Income Strategies LLC increased its stake in John B. Sanfilippo & Son by 150.9% in the 1st quarter. Sound Income Strategies LLC now owns 404 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares in the last quarter. Leonteq Securities AG acquired a new position in John B. Sanfilippo & Son during the fourth quarter worth $40,000. Finally, Virtus Advisers LLC acquired a new position in John B. Sanfilippo & Son during the third quarter worth $42,000. 70.64% of the stock is owned by hedge funds and other institutional investors.

About John B. Sanfilippo & Son

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.

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