Sidoti downgraded John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) from Buy to Neutral with a price target of $70.00 (from $76.00).

Analyst Francesco Pellegrino is concerned over the lost branded business. The analyst is expecting greater pressure from the private label category as overall competition increases. Pellegrino sees limited remain runways for the company to sell its premium brands that would drive the sales mix toward the branded portfolio.

For an analyst ratings summary and ratings history on John B. Sanfilippo & Son, Inc. click here. For more ratings news on John B. Sanfilippo & Son, Inc. click here.

Shares of John B. Sanfilippo & Son, Inc. closed at $67.40 yesterday.