ValuEngine cut shares of Sanderson Farms (NASDAQ:SAFM) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.
Several other research firms have also commented on SAFM. Morgan Stanley reaffirmed a hold rating and issued a $115.00 price target (down from $140.00) on shares of Sanderson Farms in a report on Tuesday, February 27th. Buckingham Research lowered their price target on shares of Sanderson Farms from $111.00 to $104.00 and set a hold rating on the stock in a report on Wednesday, April 11th. Mizuho reaffirmed a hold rating and issued a $120.00 price target on shares of Sanderson Farms in a report on Monday, April 23rd. Vertical Group raised shares of Sanderson Farms from a hold rating to a buy rating in a report on Wednesday, February 28th. Finally, BidaskClub lowered shares of Sanderson Farms from a buy rating to a hold rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $125.33.
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Shares of SAFM traded up $0.09 during trading hours on Wednesday, reaching $112.57. 262,358 shares of the company traded hands, compared to its average volume of 339,822. The firm has a market capitalization of $2,568.57, a PE ratio of 9.15 and a beta of 0.49. Sanderson Farms has a 12-month low of $108.82 and a 12-month high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.71). The company had revenue of $771.90 million for the quarter, compared to analysts’ expectations of $764.22 million. Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. Sanderson Farms’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm earned $1.02 earnings per share. equities research analysts forecast that Sanderson Farms will post 9.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.14%. Sanderson Farms’s dividend payout ratio (DPR) is currently 10.41%.
In other Sanderson Farms news, Director John Bierbusse sold 750 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.38, for a total value of $90,285.00. Following the completion of the transaction, the director now owns 12,944 shares in the company, valued at $1,558,198.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. ETRADE Capital Management LLC raised its position in shares of Sanderson Farms by 26.9% in the fourth quarter. ETRADE Capital Management LLC now owns 1,967 shares of the company’s stock worth $273,000 after acquiring an additional 417 shares during the period. Nuance Investments LLC raised its position in shares of Sanderson Farms by 1.8% in the fourth quarter. Nuance Investments LLC now owns 26,128 shares of the company’s stock worth $3,626,000 after acquiring an additional 472 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Sanderson Farms by 22.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 2,800 shares of the company’s stock worth $389,000 after acquiring an additional 504 shares during the period. ING Groep NV raised its position in shares of Sanderson Farms by 23.2% in the fourth quarter. ING Groep NV now owns 3,020 shares of the company’s stock worth $419,000 after acquiring an additional 569 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Sanderson Farms by 2.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 24,267 shares of the company’s stock worth $3,367,000 after acquiring an additional 600 shares during the period.
About Sanderson Farms
Sanderson Farms, Inc is a poultry processing company that engages in the production, processing, marketing and distribution of fresh, frozen, further processed and partially cooked chicken products. It operates through three divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.
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