Sanderson Farms, Inc. (SAFM) Receives $136.75 Consensus Target Price from Analysts

Sanderson Farms, Inc. (NASDAQ:SAFM) has earned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $136.75.

SAFM has been the subject of several research reports. Zacks Investment Research raised shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $129.00 to $134.00 in a research report on Friday, October 6th. BMO Capital Markets restated a “hold” rating and set a $150.00 target price on shares of Sanderson Farms in a report on Friday, October 13th. Stephens restated an “equal weight” rating and set a $170.00 target price (up previously from $145.00) on shares of Sanderson Farms in a report on Monday, September 25th. Finally, Morgan Stanley started coverage on shares of Sanderson Farms in a report on Friday, November 3rd. They set an “equal weight” rating and a $140.00 target price for the company.

Shares of Sanderson Farms (NASDAQ SAFM) traded down $0.96 during mid-day trading on Monday, hitting $130.66. 571,939 shares of the stock traded hands, compared to its average volume of 687,030. Sanderson Farms has a 52 week low of $87.54 and a 52 week high of $176.43. The company has a market capitalization of $3,010.00, a P/E ratio of 10.62 and a beta of 0.61.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.50 by ($0.30). Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The company had revenue of $919.90 million for the quarter, compared to the consensus estimate of $916.07 million. During the same period in the prior year, the company earned $3.36 EPS. The firm’s revenue was up 16.3% on a year-over-year basis. equities research analysts predict that Sanderson Farms will post 9.97 EPS for the current year.

In related news, Director Jones Gail Pittman sold 260 shares of the stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.66% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Sanderson Farms by 5.4% during the second quarter. Vanguard Group Inc. now owns 1,903,103 shares of the company’s stock worth $220,094,000 after purchasing an additional 98,236 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sanderson Farms by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,493,586 shares of the company’s stock worth $172,735,000 after purchasing an additional 119,111 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Sanderson Farms by 4.6% in the second quarter. Renaissance Technologies LLC now owns 1,057,600 shares of the company’s stock valued at $122,311,000 after acquiring an additional 46,600 shares during the last quarter. State Street Corp lifted its stake in Sanderson Farms by 7.2% in the second quarter. State Street Corp now owns 543,962 shares of the company’s stock valued at $62,910,000 after acquiring an additional 36,489 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Sanderson Farms by 22.4% in the third quarter. Prudential Financial Inc. now owns 504,876 shares of the company’s stock valued at $81,547,000 after acquiring an additional 92,497 shares during the last quarter. Institutional investors and hedge funds own 99.81% of the company’s stock.

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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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