Wall Street brokerages forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will announce $767.41 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Sanderson Farms’ earnings, with estimates ranging from $754.90 million to $780.64 million. Sanderson Farms posted sales of $688.35 million in the same quarter last year, which suggests a positive year over year growth rate of 11.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 22nd.
On average, analysts expect that Sanderson Farms will report full year sales of $767.41 million for the current financial year, with estimates ranging from $3.33 billion to $3.44 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.50 billion per share, with estimates ranging from $3.41 billion to $3.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.50 by ($0.30). Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The business had revenue of $919.90 million during the quarter, compared to the consensus estimate of $916.07 million. During the same quarter in the prior year, the company posted $3.36 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis.
In other news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. acquired a new position in shares of Sanderson Farms during the fourth quarter valued at about $14,294,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Sanderson Farms during the fourth quarter valued at about $257,000. Aperio Group LLC raised its position in shares of Sanderson Farms by 334.9% during the fourth quarter. Aperio Group LLC now owns 99,580 shares of the company’s stock valued at $13,820,000 after buying an additional 76,681 shares during the last quarter. Alambic Investment Management L.P. raised its position in shares of Sanderson Farms by 72.8% during the fourth quarter. Alambic Investment Management L.P. now owns 28,000 shares of the company’s stock valued at $3,886,000 after buying an additional 11,800 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Sanderson Farms by 1.2% during the fourth quarter. Victory Capital Management Inc. now owns 212,000 shares of the company’s stock valued at $29,421,000 after buying an additional 2,458 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.
Shares of Sanderson Farms (NASDAQ:SAFM) opened at $125.61 on Wednesday. Sanderson Farms has a fifty-two week low of $87.54 and a fifty-two week high of $176.43. The stock has a market cap of $2,850.00, a PE ratio of 10.21 and a beta of 0.47.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Monday, January 29th. Sanderson Farms’s dividend payout ratio is currently 10.41%.
Sanderson Farms Company Profile
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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