BidaskClub downgraded shares of Sanderson Farms (NASDAQ:SAFM) from a strong-buy rating to a buy rating in a report released on Saturday morning.
Several other research firms also recently commented on SAFM. Jefferies Financial Group reaffirmed a sell rating and set a $77.00 price objective on shares of Sanderson Farms in a report on Wednesday, December 19th. Zacks Investment Research reaffirmed a hold rating on shares of Sanderson Farms in a report on Thursday, November 15th. Mizuho raised shares of Sanderson Farms from a neutral rating to a buy rating and increased their price target for the stock from $101.00 to $130.00 in a report on Monday, January 28th. Barclays lowered their price target on shares of Sanderson Farms from $110.00 to $105.00 and set an equal weight rating on the stock in a report on Tuesday, December 18th. Finally, ValuEngine raised shares of Sanderson Farms from a hold rating to a buy rating in a report on Thursday, November 1st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $100.44.
NASDAQ SAFM opened at $121.59 on Friday. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 40.26 and a beta of 0.79. Sanderson Farms has a 52 week low of $93.98 and a 52 week high of $136.50.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, December 20th. The company reported ($1.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.54). The business had revenue of $798.00 million for the quarter, compared to analysts’ expectations of $787.31 million. Sanderson Farms had a net margin of 1.90% and a return on equity of 2.10%. Sanderson Farms’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $3.20 earnings per share. As a group, equities research analysts anticipate that Sanderson Farms will post -0.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 12th. Stockholders of record on Tuesday, January 29th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Monday, January 28th. Sanderson Farms’s payout ratio is 42.38%.
In other news, Director Jones Gail Pittman sold 300 shares of the stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $97.01, for a total value of $29,103.00. Following the sale, the director now directly owns 16,403 shares of the company’s stock, valued at $1,591,255.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.55% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new position in shares of Sanderson Farms in the fourth quarter worth approximately $29,000. Advisor Group Inc. increased its position in shares of Sanderson Farms by 33.0% in the fourth quarter. Advisor Group Inc. now owns 874 shares of the company’s stock worth $86,000 after purchasing an additional 217 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Sanderson Farms by 101.0% in the third quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after purchasing an additional 491 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Sanderson Farms by 722.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock worth $178,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in shares of Sanderson Farms in the third quarter worth approximately $222,000. Institutional investors own 98.08% of the company’s stock.
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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