John B. Sanfilippo & Son (NASDAQ:JBSS) Posts Quarterly Earnings Results, Misses Expectations By $0.46 EPS

Key Points

• John B. Sanfilippo & Son reported quarterly EPS of $0.71, missing the $1.17 analyst consensus by $0.46, while revenue of $280.43 million exceeded estimates of $274.87 million.
• Shares fell $2.17 to $81.30 in midday trading. The company also declared a $1.05-per-share special dividend, payable September 9 to shareholders of record August 17.
• Analyst sentiment remains cautious, with one Buy rating and three Holds; the average rating is Hold, with a consensus price target of $109.00.

John B. Sanfilippo & Son (NASDAQ:JBSS - Get Free Report) released its earnings results on Wednesday. The company reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.46), FiscalAI reports. John B. Sanfilippo & Son had a return on equity of 18.11% and a net margin of 5.76%.The firm had revenue of $280.43 million for the quarter, compared to analyst estimates of $274.87 million.

John B. Sanfilippo & Son Price Performance

Shares of NASDAQ JBSS traded down $2.17 during midday trading on Wednesday, reaching $81.30. 136,257 shares of the company traded hands, compared to its average volume of 97,559. John B. Sanfilippo & Son has a 12 month low of $59.07 and a 12 month high of $92.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.65 and a current ratio of 2.30. The stock's 50-day simple moving average is $83.50 and its 200-day simple moving average is $80.33. The firm has a market cap of $950.40 million, a PE ratio of 14.26 and a beta of 0.32.

John B. Sanfilippo & Son Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, August 17th. John B. Sanfilippo & Son's dividend payout ratio (DPR) is presently 15.79%.

Institutional Investors Weigh In On John B. Sanfilippo & Son

A number of hedge funds have recently made changes to their positions in JBSS. Ameriprise Financial Inc. increased its stake in shares of John B. Sanfilippo & Son by 260.9% in the second quarter. Ameriprise Financial Inc. now owns 148,896 shares of the company's stock valued at $9,416,000 after buying an additional 107,637 shares in the last quarter. Deutsche Bank AG lifted its position in John B. Sanfilippo & Son by 22.8% during the 4th quarter. Deutsche Bank AG now owns 256,526 shares of the company's stock worth $18,111,000 after buying an additional 47,559 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in John B. Sanfilippo & Son by 77.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 100,329 shares of the company's stock worth $7,083,000 after buying an additional 43,902 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in John B. Sanfilippo & Son by 96.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 80,173 shares of the company's stock worth $5,070,000 after buying an additional 39,336 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in John B. Sanfilippo & Son during the 3rd quarter worth about $1,875,000. Institutional investors and hedge funds own 70.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on JBSS. Weiss Ratings raised John B. Sanfilippo & Son from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. Wall Street Zen cut John B. Sanfilippo & Son from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Freedom Capital raised John B. Sanfilippo & Son to a "hold" rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, John B. Sanfilippo & Son currently has an average rating of "Hold" and a consensus target price of $109.00.

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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