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James J. Sanfilippo, a director and ten percent owner of Sanfilippo John B & Son Inc. (NASDAQ:JBSS), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Sanfilippo sold 1,004 shares of common stock on February 11, 2025. The shares were sold at a weighted average price of $70.6671, with the transaction totaling approximately $70,949.
The sale was conducted under a 10b5-1 plan, which allows insiders to set up a predetermined trading plan for selling stocks. Following this transaction, Sanfilippo retains 1,268 shares in the company. The shares were sold in multiple transactions at prices ranging from $69.40 to $71.28. Despite recent price weakness, with shares down about 25% over the past six months, InvestingPro data shows the company maintains strong fundamentals with a current ratio of 2.04 and moderate debt levels. For deeper insights into JBSS’s valuation and financial health, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, John B. Sanfilippo & Son reported lower-than-expected earnings for the second quarter, with a diluted EPS of $1.16, falling short of the consensus estimate of $1.44. This was despite the company achieving its highest quarterly net sales and largest quarterly sales volume in its history, with a 3.4% increase in net sales and a 7.1% increase in sales volume. The company’s gross profit decreased by 9.8% to $52.3 million, due to lower selling prices and higher commodity acquisition costs.
Operating expenses saw an increase of $2.5 million, attributed to one-time gains in the previous year’s quarter that did not recur, as well as increases in freight, rent, and compensation expenses. Despite these challenges, the company reported a 9.9% increase in net sales to $577.3 million for the six-month period, and a 14.9% increase in sales volume across all distribution channels, largely due to the impact of the Lakeville Acquisition.
CEO Jeffrey T. Sanfilippo expressed optimism about the company’s sales volume growth and plans to focus on enhancing profitability through operational efficiencies and optimized pricing strategies. The company aims to consolidate its Elgin and Lakeville distribution operations and add manufacturing equipment to increase production capabilities and efficiency.
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