John B. Sanfilippo & Son (NASDAQ:JBSS) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of John B. Sanfilippo & Son (NASDAQ:JBSS) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks reports.

A number of other brokerages have also recently commented on JBSS. 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 restated a “hold (c)” rating on shares of John B. Sanfilippo & Son in a research report on Tuesday, September 8th. BWS Financial reaffirmed a “buy” rating and set a $109.00 price objective on shares of John B. Sanfilippo & Son in a research note on Wednesday. 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, Freedom Broker raised shares of John B. Sanfilippo & Son from a “hold” rating to a “buy” rating and decreased their target price for the stock from $95.00 to $91.00 in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, John B. Sanfilippo & Son presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

John B. Sanfilippo & Son Stock Up 2.9%

Shares of JBSS opened at $68.52 on Thursday. The stock has a 50 day moving average price of $75.42 and a 200 day moving average price of $78.34. John B. Sanfilippo & Son has a one year low of $59.07 and a one year high of $92.08. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 2.08. The stock has a market capitalization of $801.00 million, a price-to-earnings ratio of 13.03 and a beta of 0.32.

John B. Sanfilippo & Son (NASDAQ:JBSS) last announced its quarterly earnings data on Wednesday, August 19th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.46). John B. Sanfilippo & Son had a net margin of 5.27% and a return on equity of 16.51%. The firm had revenue of $280.43 million during the quarter, compared to analysts’ expectations of $274.87 million. Equities research analysts forecast that John B. Sanfilippo & Son will post 5.56 earnings per share for the current fiscal year.

John B. Sanfilippo & Son Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th were issued a dividend of $1.05 per share. The ex-dividend date was Monday, August 17th. John B. Sanfilippo & Son’s payout ratio is currently 18.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of John B. Sanfilippo & Son during the 2nd quarter worth approximately $9,083,000. Invenomic Capital Management LP grew its position in John B. Sanfilippo & Son by 161.6% in the fourth quarter. Invenomic Capital Management LP now owns 77,474 shares of the company’s stock worth $5,470,000 after acquiring an additional 47,864 shares during the period. Inspire Investing LLC increased its stake in John B. Sanfilippo & Son by 316.1% during the first quarter. Inspire Investing LLC now owns 27,589 shares of the company’s stock worth $2,189,000 after acquiring an additional 20,958 shares during the last quarter. Lazard Asset Management LLC raised its position in John B. Sanfilippo & Son by 65.8% in the first quarter. Lazard Asset Management LLC now owns 45,720 shares of the company’s stock valued at $3,627,000 after purchasing an additional 18,142 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in John B. Sanfilippo & Son in the second quarter valued at $1,088,000. Institutional investors and hedge funds own 70.64% of the company’s stock.

About John B. Sanfilippo & Son

John B. Sanfilippo & Son, Inc is a food company that processes, packages, markets and distributes tree nuts, peanuts and related snack products. Its offerings include roasted and salted nuts, trail mixes, nut-based snacks, baking ingredients and other packaged foods sold through retail, food-service and industrial channels.

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