BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a buy rating in a report released on Saturday morning.
Several other research analysts have also issued reports on SAFM. Zacks Investment Research lowered Sanderson Farms from a buy rating to a sell rating in a research note on Thursday, October 26th. KeyCorp initiated coverage on Sanderson Farms in a research note on Tuesday, October 31st. They set a sector weight rating for the company. Morgan Stanley initiated coverage on Sanderson Farms in a research note on Friday, November 3rd. They set an equal weight rating and a $140.00 price objective for the company. Barclays reiterated an equal weight rating and set a $150.00 price objective (up from $136.00) on shares of Sanderson Farms in a research note on Thursday, December 14th. Finally, BMO Capital Markets reiterated a hold rating and set a $140.00 price objective on shares of Sanderson Farms in a research note on Monday, December 18th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms presently has a consensus rating of Hold and a consensus price target of $136.80.
Sanderson Farms (NASDAQ:SAFM) opened at $133.41 on Friday. Sanderson Farms has a 12 month low of $89.75 and a 12 month high of $176.43. The stock has a market capitalization of $3,050.00, a price-to-earnings ratio of 10.85 and a beta of 0.47.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.50 by ($0.30). Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The company had revenue of $919.90 million for the quarter, compared to analyst estimates of $916.07 million. During the same quarter in the prior year, the company earned $3.36 earnings per share. The business’s revenue was up 16.3% compared to the same quarter last year. equities research analysts expect that Sanderson Farms will post 9.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. Sanderson Farms’s dividend payout ratio (DPR) is presently 10.41%.
In other news, Director Jones Gail Pittman sold 260 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.
Large investors have recently made changes to their positions in the company. Advisor Group Inc. increased its stake in shares of Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after buying an additional 62 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after buying an additional 662 shares in the last quarter. World Asset Management Inc bought a new position in Sanderson Farms in the third quarter valued at about $207,000. Foster & Motley Inc. bought a new position in Sanderson Farms in the third quarter valued at about $213,000. Finally, Saturna Capital CORP bought a new position in Sanderson Farms in the third quarter valued at about $226,000.
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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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