John B. Sanfilippo & Son (NASDAQ:JBSS) Shares Gap Down on Disappointing Earnings

Key Points

• JBSS shares fell sharply, opening at $75.50 versus the prior close of $81.30, after quarterly EPS of $0.71 missed analysts’ $1.17 estimate. Revenue of $280.43 million exceeded expectations of $274.87 million.
• The company declared a $1.05-per-share special dividend, payable September 9 to shareholders of record August 17.
• Analyst sentiment remains cautious, with one Buy and three Hold ratings, resulting in a consensus Hold rating and a $109 average price target.

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS - Get Free Report)'s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 trading hands.

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

John B. Sanfilippo & Son Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Monday, August 17th. John B. Sanfilippo & Son's payout ratio is currently 16.67%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On John B. Sanfilippo & Son

Several large investors have recently modified their holdings of JBSS. Strs Ohio bought a new position in John B. Sanfilippo & Son in the first quarter worth approximately $579,000. Maxi Investments CY Ltd purchased a new stake in John B. Sanfilippo & Son during the fourth quarter worth $1,134,000. Lazard Asset Management LLC boosted its position in John B. Sanfilippo & Son by 65.8% during the 1st quarter. Lazard Asset Management LLC now owns 45,720 shares of the company's stock valued at $3,627,000 after acquiring an additional 18,142 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in John B. Sanfilippo & Son by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 312,802 shares of the company's stock valued at $24,815,000 after acquiring an additional 12,056 shares in the last quarter. Finally, Horizon Investments LLC purchased a new position in shares of John B. Sanfilippo & Son in the 4th quarter valued at $586,000. Institutional investors own 70.64% of the company's stock.

John B. Sanfilippo & Son Price Performance

The stock has a fifty day moving average price of $83.56 and a 200-day moving average price of $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 debt-to-equity ratio of 0.10, a quick ratio of 0.65 and a current ratio of 2.30.

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.

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