SAFM has been the subject of several other research reports. DA Davidson started coverage on shares of Sanderson Farms in a research report on Wednesday, October 5th. They issued a neutral rating and a $103.00 price target for the company. Zacks Investment Research raised shares of Sanderson Farms from a hold rating to a strong-buy rating and set a $102.00 price target for the company in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $86.00.
Shares of Sanderson Farms (NASDAQ:SAFM) traded up 4.51% on Friday, hitting $85.66. 456,204 shares of the stock traded hands. The company has a market cap of $1.93 billion, a PE ratio of 13.74 and a beta of 0.32. Sanderson Farms has a one year low of $70.13 and a one year high of $99.40. The stock has a 50 day moving average of $87.40 and a 200 day moving average of $89.08.
A number of hedge funds and other institutional investors have recently modified their holdings of SAFM. Vanguard Group Inc. raised its position in shares of Sanderson Farms by 4.2% in the second quarter. Vanguard Group Inc. now owns 1,560,659 shares of the company’s stock worth $135,217,000 after buying an additional 63,226 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Sanderson Farms by 8.5% in the third quarter. BlackRock Fund Advisors now owns 1,422,413 shares of the company’s stock worth $137,021,000 after buying an additional 111,039 shares during the last quarter. LSV Asset Management raised its position in shares of Sanderson Farms by 22.5% in the third quarter. LSV Asset Management now owns 836,991 shares of the company’s stock worth $80,627,000 after buying an additional 153,916 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sanderson Farms by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 772,228 shares of the company’s stock worth $66,903,000 after buying an additional 19,918 shares during the last quarter. Finally, Allianz Asset Management AG raised its position in shares of Sanderson Farms by 47.7% in the second quarter. Allianz Asset Management AG now owns 607,909 shares of the company’s stock worth $52,668,000 after buying an additional 196,275 shares during the last quarter. Institutional investors and hedge funds own 97.16% of the company’s stock.
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 the preparation, processing, marketing and distribution of processed and prepared chicken items. The Company sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms brand name to retailers, distributors and casual dining operators principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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