Sanderson Farms (NASDAQ:SAFM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh, frozen and minimally prepared chicken. As a company, Sanderson Farms is committed to adopting a fresh approach in everything that it does. Not only where products are concerned, but companywide as well. Though the company has grown in size, it still adheres to the same hometown values of honesty, integrity and innovation that were established when the Sanderson family founded the company as a small feed, seed and farm supply business. “
Several other research analysts have also recently commented on the stock. Morgan Stanley assumed coverage on shares of Sanderson Farms in a report on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price target for the company. KeyCorp assumed coverage on shares of Sanderson Farms in a report on Tuesday, October 31st. They set a “sector weight” rating for the company. Mizuho set a $150.00 price target on shares of Sanderson Farms and gave the stock a “hold” rating in a report on Monday, October 16th. BMO Capital Markets reiterated a “hold” rating and set a $150.00 price target on shares of Sanderson Farms in a report on Friday, October 13th. Finally, J P Morgan Chase & Co cut shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $129.00 to $134.00 in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $135.09.
Sanderson Farms (NASDAQ:SAFM) traded up $1.36 during midday trading on Thursday, reaching $170.12. 330,628 shares of the company’s stock traded hands, compared to its average volume of 403,311. Sanderson Farms has a 12 month low of $84.30 and a 12 month high of $176.43. The firm has a market cap of $3,838.35, a PE ratio of 13.60 and a beta of 0.61.
Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Sanderson Farms by 90.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,649 shares of the company’s stock valued at $3,497,000 after buying an additional 10,263 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Sanderson Farms by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 51,345 shares of the company’s stock valued at $8,293,000 after buying an additional 2,745 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Sanderson Farms in the 3rd quarter valued at $449,000. Saturna Capital CORP acquired a new position in shares of Sanderson Farms in the 3rd quarter valued at $226,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of Sanderson Farms in the 3rd quarter valued at $808,000. Institutional investors and hedge funds own 99.88% of the company’s stock.
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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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