Sanderson Farms, Inc. (SAFM) Given Consensus Rating of “Hold” by Analysts
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $133.20.
Several research firms recently issued reports on SAFM. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday, October 17th. BMO Capital Markets restated a “hold” rating and set a $150.00 price target on shares of Sanderson Farms in a research report on Friday, October 13th. Stephens restated an “equal weight” rating and set a $170.00 price target (up from $145.00) on shares of Sanderson Farms in a research report on Monday, September 25th. ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th.
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In other news, Director Fred L. Banks, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the completion of the transaction, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert C. Khayat sold 1,775 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total value of $252,600.25. Following the completion of the transaction, the director now owns 12,043 shares of the company’s stock, valued at approximately $1,713,839.33. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of Sanderson Farms by 5.0% in the 3rd quarter. First Trust Advisors LP now owns 49,951 shares of the company’s stock valued at $8,068,000 after purchasing an additional 2,360 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Sanderson Farms by 167.2% in the 3rd quarter. Nationwide Fund Advisors now owns 53,064 shares of the company’s stock valued at $8,571,000 after purchasing an additional 33,204 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Sanderson Farms in the 3rd quarter valued at approximately $371,000. Strs Ohio lifted its stake in shares of Sanderson Farms by 57.1% in the 3rd quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $355,000 after purchasing an additional 800 shares during the period. Finally, APG Asset Management N.V. purchased a new position in shares of Sanderson Farms in the 3rd quarter valued at approximately $28,428,000. Institutional investors own 99.89% of the company’s stock.
Sanderson Farms (NASDAQ:SAFM) opened at 144.99 on Wednesday. The company has a market cap of $3.30 billion, a PE ratio of 11.64 and a beta of 0.58. The firm has a 50-day moving average price of $154.54 and a 200-day moving average price of $131.30. Sanderson Farms has a 52-week low of $74.07 and a 52-week high of $166.65.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. Sanderson Farms’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. On average, analysts forecast that Sanderson Farms will post $12.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were given a $0.32 dividend. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, October 2nd. Sanderson Farms’s dividend payout ratio (DPR) is currently 10.31%.
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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