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

John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) fell 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. Approximately 27,333 shares traded hands during 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). The firm had revenue of $288.14 million during the quarter, compared to analysts’ expectations of $306.92 million. John B. Sanfilippo & Son had a net margin of 5.27% and a return on equity of 16.51%.

Analyst Ratings Changes

Several equities analysts recently commented on JBSS shares. Freedom Broker upgraded John B. Sanfilippo & Son from a “hold” rating to a “buy” rating and dropped their target price for the company from $95.00 to $91.00 in a research note on Thursday, August 20th. BWS Financial reiterated a “buy” rating and set 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 report on Tuesday, September 8th. Freedom Capital upgraded shares of John B. Sanfilippo & Son from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Finally, Wall Street Zen lowered shares of John B. Sanfilippo & Son from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Hedge Funds Weigh In On John B. Sanfilippo & Son

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new position in John B. Sanfilippo & Son during the first quarter valued at approximately $579,000. Bank of New York Mellon Corp bought a new stake in John B. Sanfilippo & Son in the second quarter worth approximately $9,083,000. Lazard Asset Management LLC increased its stake in shares of 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 worth $3,627,000 after purchasing an additional 18,142 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in John B. Sanfilippo & Son by 4.0% in 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. Finally, Bank of America Corp DE raised its holdings in John B. Sanfilippo & Son by 42.1% during the first quarter. Bank of America Corp DE now owns 41,611 shares of the company’s stock valued at $3,301,000 after buying an additional 12,332 shares in the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.

John B. Sanfilippo & Son Stock Down 8.9%

The company has a quick ratio of 0.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.11. The company has a market cap of $706.54 million, a price-to-earnings ratio of 11.49 and a beta of 0.32. The business has a 50-day simple moving average of $69.50 and a two-hundred day simple 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.