Sanderson Farms (NASDAQ:SAFM) Shares Up 15.8%

Sanderson Farms, Inc. (NASDAQ:SAFM)’s stock price shot up 15.8% during trading on Monday . The stock traded as high as $156.42 and last traded at $155.71, 1,440,618 shares were traded during mid-day trading. An increase of 258% from the average session volume of 402,675 shares. The stock had previously closed at $134.51.

Several brokerages have recently commented on SAFM. BidaskClub cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. ValuEngine cut shares of Sanderson Farms from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Bank of America began coverage on shares of Sanderson Farms in a research report on Friday. They issued an “underperform” rating and a $133.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $141.00 target price for the company in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $126.70.

The stock’s 50-day moving average is $148.17 and its 200-day moving average is $143.09. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 51.56 and a beta of 0.72. The company has a current ratio of 2.94, a quick ratio of 1.41 and a debt-to-equity ratio of 0.02.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 29th. The company reported $2.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.43). The company had revenue of $945.10 million for the quarter, compared to analyst estimates of $970.10 million. Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. Sanderson Farms’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, equities research analysts anticipate that Sanderson Farms, Inc. will post 4.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Monday, September 30th. Sanderson Farms’s dividend payout ratio is 42.38%.

In related news, COO Lampkin Butts sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $155.17, for a total transaction of $1,551,700.00. Following the completion of the transaction, the chief operating officer now directly owns 104,800 shares in the company, valued at approximately $16,261,816. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert C. Khayat sold 1,726 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $155.34, for a total transaction of $268,116.84. Following the transaction, the director now owns 10,918 shares of the company’s stock, valued at $1,696,002.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,226 shares of company stock valued at $1,896,747. 5.55% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its stake in shares of Sanderson Farms by 711.8% in the 2nd quarter. Advisory Services Network LLC now owns 276 shares of the company’s stock valued at $38,000 after purchasing an additional 242 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Sanderson Farms by 441.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 298 shares of the company’s stock valued at $41,000 after purchasing an additional 243 shares during the last quarter. CWM LLC boosted its stake in shares of Sanderson Farms by 44.3% in the 3rd quarter. CWM LLC now owns 446 shares of the company’s stock valued at $67,000 after purchasing an additional 137 shares during the last quarter. Oakworth Capital Inc. bought a new stake in shares of Sanderson Farms in the 2nd quarter valued at $64,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Sanderson Farms in the 2nd quarter valued at $74,000. Hedge funds and other institutional investors own 92.27% of the company’s stock.

Sanderson Farms Company Profile (NASDAQ:SAFM)

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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