Buckingham Research initiated coverage on shares of Sanderson Farms (NASDAQ:SAFM) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $122.00 target price on the stock.
A number of other research firms also recently issued reports on SAFM. Zacks Investment Research downgraded shares of Sanderson Farms from a hold rating to a sell rating in a research report on Thursday, December 21st. KeyCorp initiated coverage on shares of Sanderson Farms in a research report on Tuesday, October 31st. They set a sector weight rating for the company. BMO Capital Markets reissued a hold rating and set a $140.00 target price on shares of Sanderson Farms in a research report on Monday, December 18th. BidaskClub downgraded shares of Sanderson Farms from a strong-buy rating to a buy rating in a research report on Thursday, January 4th. Finally, Morgan Stanley initiated coverage on shares of Sanderson Farms in a research report on Friday, November 3rd. They issued an equal weight rating and a $140.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $132.82.
Sanderson Farms (NASDAQ SAFM) traded down $0.82 on Wednesday, reaching $119.92. 1,029,098 shares of the company were exchanged, compared to its average volume of 470,683. The firm has a market cap of $2,757.19, a P/E ratio of 8.90 and a beta of 0.47. Sanderson Farms has a 12-month low of $89.75 and a 12-month high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). The business had revenue of $771.90 million for the quarter, compared to analyst estimates of $764.22 million. Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $1.02 EPS. equities analysts predict that Sanderson Farms will post 9.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, January 30th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, January 29th. Sanderson Farms’s dividend payout ratio (DPR) is 9.50%.
In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Sanderson Farms by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 16,426 shares of the company’s stock worth $1,900,000 after buying an additional 170 shares in the last quarter. ETRADE Capital Management LLC grew its position in shares of Sanderson Farms by 26.9% during the fourth quarter. ETRADE Capital Management LLC now owns 1,967 shares of the company’s stock worth $273,000 after buying an additional 417 shares in the last quarter. Nuance Investments LLC grew its position in shares of Sanderson Farms by 1.8% during the fourth quarter. Nuance Investments LLC now owns 26,128 shares of the company’s stock worth $3,626,000 after buying an additional 472 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in shares of Sanderson Farms by 22.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 2,800 shares of the company’s stock worth $389,000 after buying an additional 504 shares in the last quarter.
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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