Sanderson Farms, Inc. (NASDAQ:SAFM) Plans Quarterly Dividend of $0.24
Sanderson Farms, Inc. (NASDAQ:SAFM) announced a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Investors of record on Tuesday, August 1st will be paid a dividend of 0.24 per share on Tuesday, August 15th. This represents a $0.96 annualized dividend and a yield of 0.82%. The ex-dividend date is Friday, July 28th.
Shares of Sanderson Farms (NASDAQ SAFM) traded up 0.633% during midday trading on Friday, reaching $118.485. The company had a trading volume of 128,641 shares. The firm’s 50 day moving average price is $120.68 and its 200-day moving average price is $106.42. Sanderson Farms has a 12 month low of $74.07 and a 12 month high of $129.50. The company has a market capitalization of $2.69 billion, a P/E ratio of 12.162 and a beta of 0.59.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, May 25th. The company reported $2.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The business had revenue of $802 million for the quarter, compared to analysts’ expectations of $769.47 million. During the same period in the prior year, the firm earned $2.11 earnings per share. Sanderson Farms’s revenue was up 15.9% compared to the same quarter last year. Analysts anticipate that Sanderson Farms will post $10.56 earnings per share for the current fiscal year.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the transaction, the director now directly owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dianne Mooney sold 1,103 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now directly owns 13,072 shares in the company, valued at $1,538,443.68. The disclosure for this sale can be found here. 5.66% of the stock is currently owned by company insiders.
SAFM has been the topic of several research analyst reports. Zacks Investment Research cut shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 5th. KeyCorp raised shares of Sanderson Farms from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Monday, March 27th. Sidoti cut shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research note on Friday, April 7th. They noted that the move was a valuation call. BMO Capital Markets reissued a “hold” rating and set a $130.00 price target on shares of Sanderson Farms in a research note on Tuesday, June 27th. Finally, ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $118.89.
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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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