Sanderson Farms (NASDAQ:SAFM) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
SAFM has been the topic of several other research reports. Morgan Stanley reissued a “hold” rating and issued a $115.00 price target (down previously from $140.00) on shares of Sanderson Farms in a research report on Tuesday, February 27th. ValuEngine lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price target on shares of Sanderson Farms in a research report on Friday, February 16th. Mizuho reissued a “hold” rating and issued a $120.00 price target on shares of Sanderson Farms in a research report on Monday, April 23rd. Finally, Vertical Group raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $125.33.
Sanderson Farms opened at $111.94 on Wednesday, according to Marketbeat Ratings. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 9.10 and a beta of 0.49. Sanderson Farms has a twelve month low of $110.49 and a twelve month high of $111.86.
In related news, Director John Bierbusse sold 750 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.38, for a total transaction of $90,285.00. Following the sale, the director now owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SAFM. Renaissance Technologies LLC increased its holdings in Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock worth $248,391,000 after acquiring an additional 501,917 shares during the period. APG Asset Management N.V. increased its holdings in Sanderson Farms by 141.6% during the 4th quarter. APG Asset Management N.V. now owns 425,200 shares of the company’s stock worth $49,142,000 after acquiring an additional 249,200 shares during the period. Scopia Capital Management LP bought a new stake in Sanderson Farms during the 1st quarter worth approximately $28,402,000. Hennessy Advisors Inc. bought a new stake in Sanderson Farms during the 4th quarter worth approximately $27,645,000. Finally, Millennium Management LLC increased its holdings in Sanderson Farms by 970.6% during the 1st quarter. Millennium Management LLC now owns 218,788 shares of the company’s stock worth $26,040,000 after acquiring an additional 198,352 shares during the period.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company that engages in the production, processing, marketing and distribution of fresh, frozen, further processed and partially cooked chicken products. It operates through three divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.
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