Sanderson Farms, Inc. (NASDAQ:SAFM) has been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $98.22.
Several brokerages have recently issued reports on SAFM. ValuEngine upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Saturday, October 13th. TheStreet lowered shares of Sanderson Farms from a “b” rating to a “c+” rating in a research report on Wednesday, August 29th. Stephens raised shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research report on Friday, August 24th. Finally, Jefferies Financial Group reissued a “sell” rating and issued a $77.00 price objective on shares of Sanderson Farms in a research report on Thursday, August 23rd.
Shares of NASDAQ SAFM opened at $102.14 on Friday. The stock has a market cap of $2.33 billion, a PE ratio of 8.30 and a beta of 0.38. Sanderson Farms has a 12-month low of $95.97 and a 12-month high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($1.17). The business had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $871.06 million. Sanderson Farms had a net margin of 5.29% and a return on equity of 9.41%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.09 earnings per share. As a group, sell-side analysts anticipate that Sanderson Farms will post 2.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Tuesday, October 2nd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, October 1st. Sanderson Farms’s dividend payout ratio (DPR) is currently 10.41%.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Bierbusse sold 875 shares of the company’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $109.94, for a total transaction 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. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of SAFM. Rehmann Capital Advisory Group grew its stake in Sanderson Farms by 5,238.1% in 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 in the last quarter. Sun Life Financial INC bought a new position in Sanderson Farms in the 2nd quarter worth about $127,000. Parallel Advisors LLC grew its stake in Sanderson Farms by 89.2% in 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 in the last quarter. Sei Investments Co. grew its stake in Sanderson Farms by 346.3% in 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 in the last quarter. Finally, Trilogy Capital Inc. bought a new position in Sanderson Farms in the 2nd quarter worth about $180,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
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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