Several other equities analysts have also recently issued reports on SAFM. Zacks Investment Research cut shares of Sanderson Farms from a buy rating to a sell rating in a research note on Thursday, October 26th. KeyCorp initiated coverage on shares of Sanderson Farms in a research note on Tuesday, October 31st. They issued a sector weight rating on the stock. Morgan Stanley initiated coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They issued an equal weight rating and a $140.00 price objective on the stock. Barclays reaffirmed an equal weight rating and issued a $150.00 price objective (up previously from $136.00) on shares of Sanderson Farms in a research note on Thursday, December 14th. Finally, BidaskClub cut shares of Sanderson Farms from a strong-buy rating to a buy rating in a research note on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Sanderson Farms currently has an average rating of Hold and a consensus target price of $136.80.
Sanderson Farms (NASDAQ SAFM) opened at $133.41 on Friday. The stock has a market cap of $3,045.62, a P/E ratio of 10.89 and a beta of 0.47. Sanderson Farms has a 52 week low of $89.75 and a 52 week high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.50 by ($0.30). The business had revenue of $919.90 million during the quarter, compared to analyst estimates of $916.07 million. Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.36 EPS. research analysts predict that Sanderson Farms will post 9.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, January 30th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Monday, January 29th. Sanderson Farms’s payout ratio is 10.45%.
In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in SAFM. Advisor Group Inc. boosted its holdings in shares of Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares during the period. PNC Financial Services Group Inc. boosted its holdings 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 worth $130,000 after buying an additional 662 shares during the period. World Asset Management Inc acquired a new position in shares of Sanderson Farms in the third quarter worth about $207,000. Foster & Motley Inc. acquired a new position in shares of Sanderson Farms in the third quarter worth about $213,000. Finally, Saturna Capital CORP acquired a new position in shares of Sanderson Farms in the third quarter worth 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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