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

Shares of John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) gapped up before the market opened on Friday after the company announced a dividend. 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 changing hands.

The newly announced dividend which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, December 4th. John B. Sanfilippo & Son’s dividend payout ratio (DPR) is currently 19.87%.

Wall Street Analyst Weigh In

JBSS has been the subject of a number of research reports. Zacks Research cut shares of John B. Sanfilippo & Son from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. Freedom Capital raised John B. Sanfilippo & Son from a “hold” rating to a “strong-buy” rating 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 report on Saturday, August 8th. BWS Financial reiterated a “buy” rating and set a $109.00 target price on shares of John B. Sanfilippo & Son in a research report on Wednesday, September 30th. Finally, Freedom Broker raised John B. Sanfilippo & Son from a “hold” rating to a “buy” rating and reduced their target price for the company from $95.00 to $91.00 in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

John B. Sanfilippo & Son Trading Up 5.3%

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

John B. Sanfilippo & Son (NASDAQ:JBSS) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.42). John B. Sanfilippo & Son had a net margin of 4.84% and a return on equity of 14.95%. The business had revenue of $288.14 million during the quarter, compared to analysts’ expectations of $306.92 million. As a group, 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 institutional investors have recently bought and sold shares of JBSS. Bank of New York Mellon Corp acquired a new position in John B. Sanfilippo & Son in the second quarter valued at $9,083,000. Royce & Associates LP boosted its stake in shares of John B. Sanfilippo & Son by 51.6% during the third quarter. Royce & Associates LP now owns 185,000 shares of the company’s stock worth $12,304,000 after buying an additional 63,000 shares during the period. Heartland Advisors Inc. grew its holdings in shares of John B. Sanfilippo & Son by 50.0% during the third quarter. Heartland Advisors Inc. now owns 105,000 shares of the company’s stock worth $6,984,000 after buying an additional 35,000 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of John B. Sanfilippo & Son by 65.8% during the first quarter. Lazard Asset Management LLC now owns 45,720 shares of the company’s stock worth $3,627,000 after buying an additional 18,142 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of John B. Sanfilippo & Son during the third quarter worth about $938,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.

About John B. Sanfilippo & Son

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.