Sanderson Farms, Inc. (SAFM) Declares Dividend Increase – $0.32 Per Share
Sanderson Farms, Inc. (NASDAQ:SAFM) announced a quarterly dividend on Thursday, September 21st, RTT News reports. Shareholders of record on Tuesday, October 3rd will be given a dividend of 0.32 per share on Tuesday, October 17th. This represents a $1.28 annualized dividend and a yield of 0.79%. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.24.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping 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 the consensus estimate of $921.40 million. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis.
In other Sanderson Farms news, Director John Bierbusse sold 625 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the transaction, the director now owns 14,776 shares in the company, valued at $2,039,531.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert C. Khayat sold 1,775 shares of the 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 transaction, the director now owns 12,043 shares in the company, valued at approximately $1,713,839.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,400 shares of company stock worth $771,199. Corporate insiders own 5.66% of the company’s stock.
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SAFM has been the topic of a number of research reports. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective on the stock in a report on Wednesday, July 5th. BMO Capital Markets restated a “hold” rating and issued a $130.00 price objective on shares of Sanderson Farms in a report on Tuesday, June 27th. Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price objective on the stock. in a report on Thursday, August 17th. ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and an average price target of $125.45.
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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