John B. Sanfilippo & Son (NASDAQ:JBSS) Stock Falls 8.2% on Disappointing Earnings

Key Points

• JBSS shares fell 8.2% to about $60.92 after the company reported disappointing quarterly results, with trading volume down 74% from its average.
• John B. Sanfilippo & Son posted earnings per share of $1.11, missing the $1.53 consensus estimate, while revenue of $288.14 million came in below expectations of $306.92 million.
• Despite mixed analyst actions, the stock carries a “Moderate Buy” consensus rating and a $100 average price target; institutional investors own 70.64% of the company.

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS - Get Free Report)'s stock price traded down 8.2% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $60.84 and last traded at $60.9150. 27,333 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 106,495 shares. The stock had previously closed at $66.34.

The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.42). John B. Sanfilippo & Son had a net margin of 5.27% and a return on equity of 16.51%. The firm had revenue of $288.14 million for the quarter, compared to the consensus estimate of $306.92 million.

Wall Street Analyst Weigh In

JBSS has been the topic of a number of analyst reports. BWS Financial reaffirmed a "buy" rating and set a $109.00 price objective on shares of John B. Sanfilippo & Son in a research 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. 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. Freedom Broker upgraded John B. Sanfilippo & Son from a "hold" rating to a "buy" rating and cut their price objective for the company from $95.00 to $91.00 in a research report on Thursday, August 20th. Finally, Zacks Research downgraded John B. Sanfilippo & Son from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, John B. Sanfilippo & Son presently has an average rating of "Moderate Buy" and an average price target of $100.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in John B. Sanfilippo & Son by 4.0% during the first quarter. Dimensional Fund Advisors LP now owns 312,802 shares of the company's stock worth $24,815,000 after purchasing an additional 12,056 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of John B. Sanfilippo & Son during the second quarter worth $9,083,000. Heartland Advisors Inc. grew its stake in shares of John B. Sanfilippo & Son by 18.6% in the first quarter. Heartland Advisors Inc. now owns 70,000 shares of the company's stock valued at $5,553,000 after buying an additional 11,000 shares in the last quarter. Dean Capital Management grew its stake in shares of John B. Sanfilippo & Son by 13.8% in the first quarter. Dean Capital Management now owns 54,044 shares of the company's stock valued at $4,287,000 after buying an additional 6,566 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of John B. Sanfilippo & Son by 11.3% in the first quarter. Principal Financial Group Inc. now owns 48,015 shares of the company's stock valued at $3,809,000 after buying an additional 4,871 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company's stock.

John B. Sanfilippo & Son Price Performance

The company has a current ratio of 2.08, a quick ratio of 0.62 and a debt-to-equity ratio of 0.11. The stock has a market cap of $706.54 million, a PE ratio of 11.49 and a beta of 0.32. The company has a fifty day moving average of $69.50 and a 200-day moving average of $77.16.

About John B. Sanfilippo & Son

John B. Sanfilippo & Son, Inc is a food company that processes, packages and distributes nuts and related snack products. Its product portfolio includes peanuts, tree nuts, seeds, snack mixes, nut butters and other snack foods sold through grocery, mass merchandise, club, convenience and foodservice channels.

The company markets products under brands including Fisher, Orchard Valley Harvest and Sunshine Country, while also producing private-label products for retailers and other customers.

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