Sanderson Farms, Inc. (NASDAQ:SAFM)‘s stock had its “overweight” rating reiterated by equities research analysts at Pacific Crest in a report released on Sunday, April 23rd. They currently have a $125.00 target price on the stock, up from their prior target price of $120.00. Pacific Crest’s price target indicates a potential upside of 7.25% from the stock’s previous close.
A number of other brokerages have also recently issued reports on SAFM. BMO Capital Markets restated a “hold” rating and issued a $105.00 target price on shares of Sanderson Farms in a report on Wednesday, April 12th. Sidoti cut Sanderson Farms from a “buy” rating to a “neutral” rating in a research report on Friday, April 7th. They noted that the move was a valuation call. KeyCorp raised Sanderson Farms from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Monday, March 27th. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $60.00 target price on shares of Sanderson Farms in a research report on Monday, February 27th. Finally, Zacks Investment Research cut Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $106.00.
Sanderson Farms (NASDAQ:SAFM) traded up 1.08% on Friday, reaching $116.55. 346,945 shares of the company’s stock were exchanged. Sanderson Farms has a 52-week low of $74.07 and a 52-week high of $117.27. The company has a market cap of $2.65 billion, a PE ratio of 13.09 and a beta of 0.34. The firm’s 50 day moving average price is $111.55 and its 200 day moving average price is $96.58.
Sanderson Farms (NASDAQ:SAFM) last issued its earnings results on Thursday, February 23rd. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by $0.40. The company had revenue of $688.35 million during the quarter, compared to analyst estimates of $695.66 million. Sanderson Farms had a return on equity of 16.94% and a net margin of 6.71%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, analysts expect that Sanderson Farms will post $9.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 23rd. Investors of record on Tuesday, May 9th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 5th. This represents a $0.96 dividend on an annualized basis and a yield of 0.82%. Sanderson Farms’s payout ratio is 11.48%.
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In other Sanderson Farms news, Treasurer D Michael Cockrell sold 5,619 shares of the business’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $103.71, for a total value of $582,746.49. Following the completion of the sale, the treasurer now owns 87,437 shares of the company’s stock, valued at $9,068,091.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Phil K. Livingston sold 1,700 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $92.58, for a total value of $157,386.00. Following the completion of the sale, the director now directly owns 11,873 shares of the company’s stock, valued at approximately $1,099,202.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,529 shares of company stock valued at $853,643. Insiders own 5.66% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in 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. Vanguard Group Inc. raised its position in Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the last quarter. BlackRock Fund Advisors raised its position in 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. Dimensional Fund Advisors LP raised its position in 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. Finally, LSV Asset Management raised its position in Sanderson Farms by 15.0% in the first quarter. LSV Asset Management now owns 1,077,121 shares of the company’s stock worth $111,848,000 after buying an additional 140,492 shares during the last quarter. Institutional investors and hedge funds own 98.46% 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 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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