John B. Sanfilippo & Son (NASDAQ:JBSS) Shares Gap Up After Dividend Announcement

Key Points

• Shares jumped after the dividend announcement, opening at $59.05 versus the prior close of $56.22. The company declared a $2.00 dividend per share, with a 19.87% payout ratio.
• John B. Sanfilippo & Son missed quarterly estimates, reporting $1.11 in earnings per share versus $1.53 expected, and revenue of $288.14 million versus $306.92 million forecast.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $100; recent ratings ranged from strong buy to sell.

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS - Get Free Report)'s stock price gapped up before the market opened on Friday following a dividend announcement from the company. The stock had previously closed at $56.22, but opened at $59.05. John B. Sanfilippo & Son shares last traded at $58.8450, with a volume of 26,179 shares traded. The newly announced dividend which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $2.00 dividend. The ex-dividend date is Friday, December 4th. John B. Sanfilippo & Son's dividend payout ratio (DPR) is presently 19.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JBSS shares. BWS Financial reiterated a "buy" rating and issued a $109.00 target price on shares of John B. Sanfilippo & Son in a report on Wednesday, September 30th. Weiss Ratings reissued a "hold (c)" rating on shares of John B. Sanfilippo & Son in a research note on Tuesday, September 8th. Freedom Broker upgraded John B. Sanfilippo & Son from a "hold" rating to a "buy" rating and cut their price target for the stock from $95.00 to $91.00 in a report on Thursday, August 20th. Wall Street Zen lowered John B. Sanfilippo & Son from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered John B. Sanfilippo & Son from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $100.00.

John B. Sanfilippo & Son Trading Up 5.3%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 0.60. The business's 50 day moving average is $65.11 and its 200 day moving average is $76.15. The stock has a market cap of $692.33 million, a price-to-earnings ratio of 12.38 and a beta of 0.34.

John B. Sanfilippo & Son (NASDAQ:JBSS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.42). The business had revenue of $288.14 million during the quarter, compared to analyst estimates of $306.92 million. John B. Sanfilippo & Son had a net margin of 4.84% and a return on equity of 14.95%. As a group, equities analysts expect that John B. Sanfilippo & Son, Inc. will post 5.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Cullen Capital Management LLC lifted its stake in John B. Sanfilippo & Son by 6.1% during the third quarter. Cullen Capital Management LLC now owns 3,662 shares of the company's stock worth $244,000 after purchasing an additional 212 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in John B. Sanfilippo & Son by 4.7% in the first quarter. Illinois Municipal Retirement Fund now owns 4,907 shares of the company's stock valued at $389,000 after purchasing an additional 220 shares during the last quarter. Signaturefd LLC increased its stake in John B. Sanfilippo & Son by 35.3% in the third quarter. Signaturefd LLC now owns 908 shares of the company's stock valued at $60,000 after purchasing an additional 237 shares during the last quarter. First Trust Advisors LP increased its stake in John B. Sanfilippo & Son by 0.9% in the first quarter. First Trust Advisors LP now owns 29,520 shares of the company's stock valued at $2,342,000 after purchasing an additional 272 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in John B. Sanfilippo & Son by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 101,226 shares of the company's stock worth $8,030,000 after purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company's stock.

John B. Sanfilippo & Son Company Profile

John B. Sanfilippo & Son, Inc. processes, packages and markets nuts and nut-based products. Its offerings include snack and baking nuts, trail mixes, nut butters, confections and other snack products, sold under company-owned brands as well as through private-label programs. The company's brands include Fisher, Orchard Valley Harvest and Squirrel Brand. Its products reach consumers through grocery and other retail channels, as well as foodservice and industrial customers. Founded in 1922, the company is headquartered in Elgin, Illinois.

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