ValuEngine upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a buy rating in a research note released on Thursday.
A number of other research analysts also recently issued reports on SAFM. BidaskClub downgraded Sanderson Farms from a hold rating to a sell rating in a research note on Wednesday, July 18th. Mizuho set a $105.00 price target on Sanderson Farms and gave the stock a hold rating in a research note on Wednesday, July 25th. Buckingham Research set a $95.00 price target on Sanderson Farms and gave the stock a hold rating in a research note on Wednesday, July 25th. 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 note on Friday, August 24th. Finally, TheStreet downgraded Sanderson Farms from a b rating to a c+ rating in a research note on Wednesday, August 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $98.22.
NASDAQ:SAFM traded down $0.04 during mid-day trading on Thursday, reaching $102.14. 305,600 shares of the stock were exchanged, compared to its average volume of 491,338. The company has a market capitalization of $2.36 billion, a PE ratio of 8.30 and a beta of 0.29. Sanderson Farms has a 1 year low of $95.97 and a 1 year high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.17). The firm had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $871.06 million. Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.09 EPS. Equities research analysts predict that Sanderson Farms will post 2.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, October 1st. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. 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 that occurred on Monday, August 27th. The stock was sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now directly owns 9,682 shares of the company’s stock, valued at approximately $1,037,329.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Bierbusse sold 875 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $109.94, for a total value of $96,197.50. Following the sale, the director now directly owns 12,086 shares of the company’s stock, 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.
Institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group lifted its position in Sanderson Farms by 5,238.1% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after acquiring an additional 1,100 shares during the period. Sun Life Financial INC acquired a new stake in Sanderson Farms during the 2nd quarter worth approximately $127,000. Parallel Advisors LLC lifted its position in Sanderson Farms by 89.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock worth $132,000 after acquiring an additional 593 shares during the period. Sei Investments Co. lifted its position in Sanderson Farms by 346.3% during the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after acquiring an additional 1,233 shares during the period. Finally, Trilogy Capital Inc. acquired a new stake in Sanderson Farms during the 2nd quarter worth approximately $180,000. 97.80% of the stock is owned by institutional investors.
Sanderson Farms Company Profile
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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