Sanderson Farms, Inc. to Post FY2021 Earnings of $8.30 Per Share, Jefferies Group Forecasts (SAFM)
Sanderson Farms, Inc. (NASDAQ:SAFM) – Jefferies Group issued their FY2021 earnings per share estimates for shares of Sanderson Farms in a research note issued to investors on Friday. Jefferies Group analyst A. Jagdale expects that the company will post earnings of $8.30 per share for the year. Jefferies Group currently has a “Sell” rating and a $85.00 price objective on the stock.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $1.62. The business had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/sanderson-farms-inc-to-post-fy2021-earnings-of-8-30-per-share-jefferies-group-forecasts-safm/1532348.html.
A number of other research analysts have also recently weighed in on SAFM. Barclays PLC set a $136.00 price target on shares of Sanderson Farms and gave the company a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $129.00 price objective (up previously from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $150.00 price objective (up previously from $130.00) on shares of Sanderson Farms in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $125.45.
Shares of Sanderson Farms (NASDAQ SAFM) traded up 2.142% during midday trading on Monday, reaching $145.195. 190,697 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $129.90 and its 200 day moving average is $114.04. The firm has a market cap of $3.30 billion, a PE ratio of 11.656 and a beta of 0.62. Sanderson Farms has a one year low of $74.07 and a one year high of $148.33.
A number of large investors have recently bought and sold shares of the company. Advisor Group Inc. increased its stake 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 last quarter. PNC Financial Services Group Inc. increased its stake 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 last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Sanderson Farms during the second quarter worth $125,000. Strs Ohio increased its stake in shares of Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of Sanderson Farms by 49.9% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after buying an additional 499 shares during the last quarter. 99.99% of the stock is owned by institutional investors and hedge funds.
In related news, Director John Bierbusse sold 625 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $138.03, for a total value of $86,268.75. Following the completion of the sale, the director now owns 14,776 shares of the company’s stock, valued at $2,039,531.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the sale, the director now directly owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. Insiders own 5.66% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s dividend payout ratio (DPR) is 7.74%.
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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