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John B. Sanfilippo & Son, Inc. (JBSS): What Hedge Funds Think about This Stock?

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The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS).

Among the investors in our database, the hedge fund interest towards John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS) shares was flat at the end of last quarter. This is usually a negative indicator. At the end of this article we will also compare JBSS to other stocks including Middlesex Water Company (NASDAQ:MSEX), Encore Capital Group, Inc. (NASDAQ:ECPG), and AeroVironment, Inc. (NASDAQ:AVAV) to get a better sense of its popularity.

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We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500 ETFs. We launched this strategy 2.5 years ago and it returned more than 39% since then, vs. 22% gain registered by the S&P 500 ETFs.

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Keeping this in mind, we’re going to take a glance at the latest action surrounding John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS).

What have hedge funds been doing with John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS)?

Heading into the fourth quarter of 2016, a total of 14 of the hedge funds tracked by Insider Monkey were bullish on John B. Sanfilippo & Son, unchanged from the previous quarter. The graph below displays the number of hedge funds with bullish position in JBSS over the last five quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

JBSS Chart

Of the funds tracked by Insider Monkey, Chuck Royce’s Royce & Associates has the most valuable position in John B. Sanfilippo & Son, Inc. (NASDAQ:JBSS), worth close to $30.6 million, accounting for 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, led by Cliff Asness, holding a $14.7 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Other peers that hold long positions comprise Richard S. Meisenberg’s ACK Asset Management, Jim Simons’s Renaissance Technologies, and John Overdeck and David Siegel’s Two Sigma Advisors. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.

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