Sanderson Farms (NASDAQ:SAFM) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
SAFM has been the topic of a number of other reports. ValuEngine raised Sanderson Farms from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Stephens raised Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, August 24th. TheStreet downgraded Sanderson Farms from a “b” rating to a “c+” rating in a research report on Wednesday, August 29th. Mizuho set a $105.00 target price on Sanderson Farms and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Finally, Buckingham Research set a $95.00 target price on Sanderson Farms and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Sanderson Farms currently has an average rating of “Hold” and an average price target of $104.80.
Sanderson Farms stock opened at $97.52 on Friday. The stock has a market capitalization of $2.36 billion, a PE ratio of 7.93 and a beta of 0.29. Sanderson Farms has a 52 week low of $95.97 and a 52 week high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results 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 for the quarter, compared to analyst estimates of $871.06 million. During the same period last year, the business earned $5.09 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, research analysts predict that Sanderson Farms will post 2.76 EPS for the current fiscal year.
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 stock was sold at an average price of $107.14, for a total transaction of $53,570.00. Following the sale, the director now directly owns 9,682 shares of the company’s stock, valued at $1,037,329.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Bierbusse sold 875 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the sale, the director now directly owns 12,086 shares in the company, valued at $1,328,734.84. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAFM. OppenheimerFunds Inc. boosted its holdings in Sanderson Farms by 22.6% during the first quarter. OppenheimerFunds Inc. now owns 8,055 shares of the company’s stock valued at $959,000 after purchasing an additional 1,486 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in Sanderson Farms during the first quarter valued at approximately $300,000. Principal Financial Group Inc. boosted its holdings in Sanderson Farms by 4.1% during the first quarter. Principal Financial Group Inc. now owns 103,465 shares of the company’s stock valued at $12,315,000 after purchasing an additional 4,081 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in Sanderson Farms by 56.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 4,112 shares of the company’s stock valued at $489,000 after purchasing an additional 1,491 shares in the last quarter. Finally, Element Capital Management LLC acquired a new stake in Sanderson Farms during the first quarter valued at approximately $320,000.
Sanderson Farms Company Profile
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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