John B. Sanfilippo & Son (JBSS) Upgraded to Buy at BidaskClub

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BidaskClub upgraded shares of John B. Sanfilippo & Son (NASDAQ:JBSS) from a hold rating to a buy rating in a research note issued to investors on Friday.

JBSS stock traded up $0.91 during midday trading on Friday, reaching $70.53. The company had a trading volume of 27,841 shares, compared to its average volume of 60,601. The company has a quick ratio of 0.62, a current ratio of 2.11 and a debt-to-equity ratio of 0.11. John B. Sanfilippo & Son has a fifty-two week low of $54.32 and a fifty-two week high of $79.37. The company has a market cap of $789.84 million, a P/E ratio of 24.60 and a beta of 1.05.

John B. Sanfilippo & Son (NASDAQ:JBSS) last issued its earnings results on Thursday, August 23rd. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.33). John B. Sanfilippo & Son had a net margin of 3.65% and a return on equity of 14.04%. The company had revenue of $211.51 million during the quarter.

In other John B. Sanfilippo & Son news, CEO Jeffrey T. Sanfilippo sold 8,108 shares of John B. Sanfilippo & Son stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $71.00, for a total value of $575,668.00. Following the completion of the transaction, the chief executive officer now directly owns 14,840 shares in the company, valued at $1,053,640. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 22.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of John B. Sanfilippo & Son by 17.0% during the second quarter. First Trust Advisors LP now owns 9,914 shares of the company’s stock worth $738,000 after buying an additional 1,437 shares during the period. Acadian Asset Management LLC acquired a new position in shares of John B. Sanfilippo & Son during the second quarter worth approximately $2,592,000. Principal Financial Group Inc. boosted its position in shares of John B. Sanfilippo & Son by 4.1% during the first quarter. Principal Financial Group Inc. now owns 71,951 shares of the company’s stock worth $4,164,000 after buying an additional 2,830 shares during the period. Royal Bank of Canada boosted its position in shares of John B. Sanfilippo & Son by 3.8% during the first quarter. Royal Bank of Canada now owns 105,048 shares of the company’s stock worth $6,079,000 after buying an additional 3,833 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of John B. Sanfilippo & Son during the second quarter worth approximately $534,000. Institutional investors and hedge funds own 67.89% of the company’s stock.

John B. Sanfilippo & Son Company Profile

John B. Sanfilippo & Son, Inc, together with its subsidiary, JBSS Ventures, LLC, processes and distributes tree nuts and peanuts in the United States. The company offers raw and processed nuts, including almonds, pecans, peanuts, black walnuts, English walnuts, cashews, macadamia nuts, pistachios, pine nuts, Brazil nuts, and filberts in various styles and seasonings.

Further Reading: How to interpret a stock’s beta number

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