A number of other equities analysts have also commented on the company. Buckingham Research lifted their price objective on Sanderson Farms from $115.00 to $138.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. BidaskClub lowered Sanderson Farms from a buy rating to a hold rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upgraded Sanderson Farms from an underweight rating to a neutral rating and lifted their price objective for the stock from $88.00 to $127.00 in a research note on Wednesday, March 13th. Stephens began coverage on Sanderson Farms in a research note on Monday, March 4th. They issued an equal weight rating and a $130.00 price objective on the stock. Finally, BMO Capital Markets lifted their price objective on Sanderson Farms from $95.00 to $115.00 and gave the stock a market perform rating in a research note on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms has an average rating of Hold and an average price target of $116.25.
NASDAQ SAFM opened at $139.52 on Friday. Sanderson Farms has a fifty-two week low of $93.98 and a fifty-two week high of $141.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.48 and a current ratio of 2.82. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 46.20 and a beta of 0.78.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.82) by $1.00. The company had revenue of $743.40 million for the quarter, compared to analyst estimates of $705.25 million. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. Analysts anticipate that Sanderson Farms will post 2.6 earnings per share for the current fiscal year.
In related news, Director John Bierbusse sold 677 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total transaction of $77,137.38. Following the transaction, the director now directly owns 12,675 shares in the company, valued at $1,444,189.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lampkin Butts sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $127.82, for a total value of $1,278,200.00. Following the transaction, the insider now owns 121,611 shares in the company, valued at $15,544,318.02. The disclosure for this sale can be found here. Insiders own 5.55% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC acquired a new stake in Sanderson Farms during the first quarter valued at approximately $221,000. Sciencast Management LP acquired a new stake in Sanderson Farms during the first quarter valued at approximately $243,000. Retirement Systems of Alabama boosted its holdings in Sanderson Farms by 128.3% during the first quarter. Retirement Systems of Alabama now owns 59,481 shares of the company’s stock valued at $7,842,000 after purchasing an additional 33,425 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its holdings in Sanderson Farms by 11.1% during the first quarter. Westbourne Investment Advisors Inc. now owns 5,950 shares of the company’s stock valued at $784,000 after purchasing an additional 595 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Sanderson Farms during the first quarter valued at approximately $539,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.
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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.
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