Sanderson Farms, Inc. (NASDAQ:SAFM) received a $150.00 target price from investment analysts at Mizuho in a research report issued to clients and investors on Monday, October 16th. The firm presently has a “hold” rating on the stock. Mizuho’s price objective would suggest a potential upside of 2.70% from the stock’s current price.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research report on Tuesday, October 17th. BMO Capital Markets restated a “hold” rating and set a $150.00 target price on shares of Sanderson Farms in a research report on Friday, October 13th. Stephens restated an “equal weight” rating and set a $170.00 target price (up from $145.00) on shares of Sanderson Farms in a research report on Monday, September 25th. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $131.27.
Shares of Sanderson Farms (NASDAQ SAFM) opened at 146.05 on Monday. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $166.65. The company has a market capitalization of $3.32 billion, a P/E ratio of 11.72 and a beta of 0.58. The company has a 50 day moving average of $154.41 and a 200-day moving average of $131.40.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm had revenue of $931.90 million for the quarter, compared to analyst estimates of $921.40 million. During the same quarter in the prior year, the firm earned $2.42 EPS. The company’s revenue was up 28.0% on a year-over-year basis. On average, equities analysts anticipate that Sanderson Farms will post $12.69 EPS for the current fiscal year.
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In related news, Director Robert C. Khayat sold 1,775 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total value of $252,600.25. Following the sale, the director now directly owns 12,043 shares in the company, valued at approximately $1,713,839.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the completion of the sale, the director now owns 24,948 shares in the company, valued at $3,595,256.28. The disclosure for this sale can be found here. Insiders sold a total of 5,400 shares of company stock worth $771,199 over the last quarter. 5.66% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Sanderson Farms by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the period. Prudential Financial Inc. raised its holdings in Sanderson Farms by 18.0% during the 2nd quarter. Prudential Financial Inc. now owns 412,379 shares of the company’s stock worth $47,691,000 after buying an additional 62,820 shares during the period. Legal & General Group Plc raised its holdings in Sanderson Farms by 9.6% during the 2nd quarter. Legal & General Group Plc now owns 40,443 shares of the company’s stock worth $4,681,000 after buying an additional 3,559 shares during the period. Chicago Equity Partners LLC raised its holdings in Sanderson Farms by 259.8% during the 2nd quarter. Chicago Equity Partners LLC now owns 37,667 shares of the company’s stock worth $4,356,000 after buying an additional 27,197 shares during the period. Finally, Teachers Advisors LLC raised its holdings in Sanderson Farms by 349.0% during the 2nd quarter. Teachers Advisors LLC now owns 155,324 shares of the company’s stock worth $17,963,000 after buying an additional 120,730 shares during the period. Hedge funds and other institutional investors own 99.89% of the company’s stock.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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