BidaskClub lowered shares of Sanderson Farms (NASDAQ:SAFM) from a strong-buy rating to a buy rating in a research note published on Wednesday.
SAFM has been the subject of several other research reports. Stephens raised 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 research report on Friday, August 24th. ValuEngine raised shares of Sanderson Farms from a hold rating to a buy rating in a research report on Thursday, November 1st. TheStreet downgraded shares of Sanderson Farms from a b rating to a c+ rating in a research report on Wednesday, August 29th. Zacks Investment Research reaffirmed a hold rating on shares of Sanderson Farms in a research report on Thursday, November 15th. Finally, Jefferies Financial Group reaffirmed a sell rating and issued a $77.00 price objective on shares of Sanderson Farms in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $98.22.
Shares of NASDAQ:SAFM opened at $103.30 on Wednesday. Sanderson Farms has a 52-week low of $95.97 and a 52-week high of $172.28. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.36 and a beta of 0.39.
Several hedge funds have recently added to or reduced their stakes in SAFM. PNC Financial Services Group Inc. grew its position in shares of Sanderson Farms by 101.0% during the third quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after buying an additional 491 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of Sanderson Farms by 5,238.1% during the second quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after buying an additional 1,100 shares in the last quarter. Sun Life Financial INC acquired a new stake in shares of Sanderson Farms during the second quarter worth approximately $127,000. Sei Investments Co. grew its position in shares of Sanderson Farms by 346.3% during the second quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after buying an additional 1,233 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Sanderson Farms by 722.5% during the third quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock worth $178,000 after buying an additional 1,510 shares in the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.
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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