Barclays PLC Reiterates “$136.00” Price Target for Sanderson Farms, Inc. (SAFM)
Several other research firms have also commented on SAFM. BidaskClub upgraded shares of Sanderson Farms from a hold rating to a buy rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Sanderson Farms from a hold rating to a buy rating and set a $138.00 price target for the company in a research report on Thursday, July 27th. Mizuho began coverage on shares of Sanderson Farms in a report on Wednesday, June 7th. They issued a buy rating and a $142.00 price objective for the company. Jefferies Group LLC reaffirmed a sell rating and issued a $85.00 price objective on shares of Sanderson Farms in a report on Friday, June 9th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $130.00 price objective on shares of Sanderson Farms in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $125.45.
Sanderson Farms (SAFM) opened at 140.29 on Friday. Sanderson Farms has a 52-week low of $74.07 and a 52-week high of $148.33. The company’s 50-day moving average is $129.90 and its 200-day moving average is $114.04. The firm has a market capitalization of $3.19 billion, a P/E ratio of 11.26 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping the consensus estimate of $3.47 by $1.62. The business had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. On average, analysts predict that Sanderson Farms will post $12.54 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, July 28th. Sanderson Farms’s payout ratio is currently 7.74%.
In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the sale, the director now directly owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.66% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Sanderson Farms by 38,073.7% in the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock worth $280,451,000 after buying an additional 2,693,713 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sanderson Farms by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock worth $142,725,000 after buying an additional 411,406 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Sanderson Farms during the second quarter worth $309,000. Origin Asset Management LLP acquired a new stake in shares of Sanderson Farms during the second quarter worth $32,665,000. Finally, Alliancebernstein L.P. increased its stake in shares of Sanderson Farms by 603.4% in the second quarter. Alliancebernstein L.P. now owns 270,004 shares of the company’s stock worth $31,226,000 after buying an additional 231,621 shares during the last quarter. 99.99% of the stock is owned by institutional investors.
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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