Sanderson Farms, Inc. (SAFM) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $125.56.
A number of research firms have commented on SAFM. Mizuho began coverage on Sanderson Farms in a research note on Wednesday, June 7th. They set a “buy” rating and a $142.00 price target on the stock. Zacks Investment Research cut Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub cut Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co restated a “neutral” rating and set a $129.00 price target (up from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. Finally, Barclays PLC set a $136.00 price target on Sanderson Farms and gave the stock a “hold” rating in a research note on Friday, August 25th.
Shares of Sanderson Farms (NASDAQ SAFM) opened at 151.55 on Tuesday. The company’s 50 day moving average price is $134.21 and its 200-day moving average price is $116.00. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 12.17 and a beta of 0.56. Sanderson Farms has a 52 week low of $74.07 and a 52 week high of $151.64.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The firm had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. During the same period in the prior year, the firm posted $2.42 earnings per share. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. Analysts anticipate that Sanderson Farms will post $12.80 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, July 28th. Sanderson Farms’s dividend payout ratio is currently 7.74%.
In other news, Director Robert C. Khayat sold 1,775 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. Insiders have sold 5,400 shares of company stock worth $771,199 in the last ninety days. Corporate insiders own 5.66% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. increased its position in shares of Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after acquiring an additional 62 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Sanderson Farms during the second quarter worth $125,000. PNC Financial Services Group Inc. increased its position in shares of Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after acquiring an additional 662 shares during the period. Strs Ohio increased its position in shares of Sanderson Farms by 180.0% during the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after acquiring an additional 900 shares during the period. Finally, Riverhead Capital Management LLC increased its position in shares of Sanderson Farms by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after acquiring an additional 499 shares during the period. 99.99% of the stock is currently owned by institutional investors and hedge funds.
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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