Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have been given an average recommendation of “Hold” by the fifteen analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $98.22.
A number of equities analysts recently weighed in on SAFM shares. TheStreet lowered shares of Sanderson Farms from a “b” rating to a “c+” rating in a report on Wednesday, August 29th. Jefferies Financial Group restated a “sell” rating and issued a $77.00 price objective on shares of Sanderson Farms in a report on Thursday, August 23rd. Stephens upgraded shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, August 24th. BidaskClub lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Finally, Buckingham Research decreased their price objective on shares of Sanderson Farms from $95.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, August 16th.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $107.14, for a total value of $53,570.00. Following the completion of the sale, the director now owns 9,682 shares of the company’s stock, valued at approximately $1,037,329.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Bierbusse sold 875 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $109.94, for a total transaction of $96,197.50. Following the completion of the sale, the director now directly owns 12,086 shares of the company’s stock, valued at approximately $1,328,734.84. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Large investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group grew its position in Sanderson Farms by 5,238.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after purchasing an additional 1,100 shares during the period. Sun Life Financial INC bought a new stake in Sanderson Farms in the 2nd quarter worth approximately $127,000. Parallel Advisors LLC grew its position in Sanderson Farms by 89.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock worth $132,000 after purchasing an additional 593 shares during the period. Sei Investments Co. grew its position in Sanderson Farms by 346.3% in the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after purchasing an additional 1,233 shares during the period. Finally, Trilogy Capital Inc. bought a new stake in Sanderson Farms in the 2nd quarter worth approximately $180,000.
Shares of SAFM stock traded down $0.48 during trading hours on Wednesday, hitting $97.52. 426,786 shares of the company’s stock traded hands, compared to its average volume of 501,516. Sanderson Farms has a 12-month low of $95.97 and a 12-month high of $176.43. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 7.93 and a beta of 0.29.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 23rd. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.17). Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The firm had revenue of $852.40 million during the quarter, compared to analysts’ expectations of $871.06 million. During the same quarter in the previous year, the firm earned $5.09 earnings per share. Sanderson Farms’s revenue was down 8.5% on a year-over-year basis. Analysts forecast that Sanderson Farms will post 2.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Monday, October 1st. Sanderson Farms’s dividend payout ratio (DPR) is presently 10.41%.
About Sanderson Farms
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. 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 in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.
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