BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a buy rating to a strong-buy rating in a report published on Tuesday.
A number of other equities research analysts have also commented on the company. Jefferies Financial Group restated a sell rating and set a $77.00 price target on shares of Sanderson Farms in a research report on Thursday, August 23rd. TheStreet lowered Sanderson Farms from a b rating to a c+ rating in a research report on Wednesday, August 29th. Stephens upgraded Sanderson Farms from an equal weight rating to an overweight rating and set a $95.00 price target on the stock in a research report on Friday, August 24th. Buckingham Research decreased their price target on Sanderson Farms from $95.00 to $90.00 and set a hold rating on the stock in a research report on Thursday, August 16th. Finally, Mizuho set a $105.00 price target on Sanderson Farms and gave the stock a hold rating in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $98.22.
NASDAQ SAFM opened at $104.09 on Tuesday. The company has a market cap of $2.38 billion, a P/E ratio of 8.46 and a beta of 0.38. Sanderson Farms has a one year low of $95.97 and a one year high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($1.17). The business had revenue of $852.40 million for the quarter, compared to the consensus estimate of $871.06 million. Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $5.09 earnings per share. On average, analysts anticipate that Sanderson Farms will post 2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd were given a $0.32 dividend. The ex-dividend date was Monday, October 1st. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. Sanderson Farms’s payout ratio is 10.41%.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $107.14, for a total value of $53,570.00. Following the transaction, the director now directly owns 9,682 shares in the company, valued at approximately $1,037,329.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Bierbusse sold 875 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the completion of the transaction, the director now owns 12,086 shares in the company, valued at $1,328,734.84. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SAFM. BlackRock Inc. boosted its position in shares of Sanderson Farms by 3.3% in the 2nd quarter. BlackRock Inc. now owns 2,316,791 shares of the company’s stock worth $243,611,000 after purchasing an additional 73,461 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sanderson Farms by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,444,477 shares of the company’s stock worth $151,886,000 after purchasing an additional 56,871 shares during the last quarter. Nuance Investments LLC boosted its position in shares of Sanderson Farms by 37.0% in the 3rd quarter. Nuance Investments LLC now owns 1,070,399 shares of the company’s stock worth $110,573,000 after purchasing an additional 288,873 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Sanderson Farms by 43.5% in the 3rd quarter. Victory Capital Management Inc. now owns 983,807 shares of the company’s stock worth $101,696,000 after purchasing an additional 298,449 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Sanderson Farms by 263.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 614,422 shares of the company’s stock worth $63,513,000 after purchasing an additional 445,215 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.
About Sanderson Farms
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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