Sanderson Farms, Inc. (SAFM) Given Consensus Rating of “Buy” by Analysts
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have been assigned an average recommendation of “Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $117.86.
SAFM has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and set a $130.00 price objective on shares of Sanderson Farms in a research note on Tuesday, June 27th. Jefferies Group LLC restated a “sell” rating and set a $85.00 price objective on shares of Sanderson Farms in a research note on Friday, June 9th. Finally, Mizuho initiated coverage on shares of Sanderson Farms in a research note on Wednesday, June 7th. They set a “buy” rating and a $142.00 price objective for the company.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total transaction of $60,750.00. Following the transaction, the director now owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the transaction, the director now directly owns 13,072 shares in the company, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. 5.66% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock valued at $229,000 after buying an additional 60 shares in the last quarter. Laurion Capital Management LP purchased a new position in shares of Sanderson Farms during the first quarter valued at $633,000. TD Asset Management Inc. increased its position in shares of Sanderson Farms by 9.3% in the first quarter. TD Asset Management Inc. now owns 33,000 shares of the company’s stock valued at $3,427,000 after buying an additional 2,800 shares in the last quarter. Arizona State Retirement System increased its position in shares of Sanderson Farms by 2.0% in the first quarter. Arizona State Retirement System now owns 10,384 shares of the company’s stock valued at $1,078,000 after buying an additional 200 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock valued at $187,418,000 after buying an additional 122,658 shares in the last quarter.
Sanderson Farms (SAFM) opened at 139.89 on Friday. The stock’s 50 day moving average is $123.01 and its 200-day moving average is $110.11. The firm has a market capitalization of $3.18 billion, a PE ratio of 14.36 and a beta of 0.62. Sanderson Farms has a one year low of $74.07 and a one year high of $140.85.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.22. The company had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. Sanderson Farms’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $2.11 EPS. On average, analysts anticipate that Sanderson Farms will post $10.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s payout ratio is 9.86%.
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About Sanderson Farms
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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