BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a hold rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.
A number of other analysts also recently issued reports on SAFM. Cleveland Research raised Sanderson Farms from a neutral rating to a buy rating in a research report on Wednesday, May 22nd. ValuEngine downgraded Sanderson Farms from a strong-buy rating to a buy rating in a research report on Wednesday, September 4th. Barclays set a $145.00 target price on Sanderson Farms and gave the company a hold rating in a research report on Friday, May 31st. TheStreet raised Sanderson Farms from a c+ rating to a b rating in a research report on Friday, June 7th. Finally, Zacks Investment Research raised Sanderson Farms from a hold rating to a buy rating and set a $141.00 target price on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Sanderson Farms has a consensus rating of Hold and an average target price of $126.00.
Shares of Sanderson Farms stock traded up $0.09 during trading on Thursday, reaching $155.40. The stock had a trading volume of 2,706 shares, compared to its average volume of 359,650. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 51.32 and a beta of 0.73. The stock has a fifty day moving average price of $145.00 and a two-hundred day moving average price of $139.44. Sanderson Farms has a 52 week low of $93.98 and a 52 week high of $158.32. The company has a current ratio of 2.94, a quick ratio of 1.41 and a debt-to-equity ratio of 0.02.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 29th. The company reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.43). The company had revenue of $945.10 million during the quarter, compared to analyst estimates of $970.10 million. Sanderson Farms had a net margin of 0.99% and a return on equity of 2.86%. Sanderson Farms’s revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, equities analysts forecast that Sanderson Farms will post 4.86 EPS for the current fiscal year.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $153.86, for a total transaction of $76,930.00. Following the transaction, the director now owns 10,366 shares of the company’s stock, valued at $1,594,912.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.55% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SAFM. Vanguard Group Inc. grew its position in shares of Sanderson Farms by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,939,007 shares of the company’s stock valued at $264,790,000 after purchasing an additional 100,076 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Sanderson Farms by 0.8% in the first quarter. Clearbridge Investments LLC now owns 547,349 shares of the company’s stock valued at $72,163,000 after purchasing an additional 4,266 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Sanderson Farms by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 299,099 shares of the company’s stock valued at $40,844,000 after purchasing an additional 16,549 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Sanderson Farms in the second quarter valued at approximately $36,474,000. Finally, Geode Capital Management LLC grew its position in shares of Sanderson Farms by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 236,930 shares of the company’s stock valued at $23,524,000 after purchasing an additional 18,291 shares during the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.
About Sanderson Farms
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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.
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