DOLE - John B. Sanfilippo & Son: Still Not Tasty Enough To Take A Bite Of

2024-03-13 10:19:33 ET

Summary

• John B. Sanfilippo & Son, a nut processing and distribution company, is not a compelling investment prospect at this time.
• The company's revenue increased in the second quarter of 2024, but it was largely due to an acquisition, not organic growth.
• Tree nut production is declining, which may impact pricing, but it is unlikely to significantly change the company's fundamentals in the near term.

Over the years, some of the most peculiar companies, usually ones that most people would consider ‘boring’, are the ones that I tend to enjoy looking into the most. A great example of this can be seen with John B. Sanfilippo & Son ( JBSS ), a company that specializes in the processing and distribution of peanuts, pecans, cashews, walnuts, almonds, and other related products. But it's important to keep in mind that, while it's great to follow your interests, you cannot let your personal feelings get in the way of your investment decisions. That's why, even though I like John B. Sanfilippo & Son from an operational perspective and I believe its long-term potential is positive, I ended up rating the company a ‘hold’....

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