Initiates Coverage on Sanderson Farms (NASDAQ:SAFM) initiated coverage on shares of Sanderson Farms (NASDAQ:SAFMGet Rating) in a research note published on Friday morning. The firm issued a strong-buy rating on the stock.

Separately, Consumer Edge lowered shares of Sanderson Farms from an overweight rating to an equal weight rating in a research report on Thursday, June 16th. Six equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from, the company currently has an average rating of Hold and a consensus price target of $203.00.

Sanderson Farms Stock Performance

NASDAQ:SAFM opened at $204.00 on Friday. The firm’s 50-day moving average is $208.22 and its 200-day moving average is $193.01. Sanderson Farms has a 52-week low of $175.82 and a 52-week high of $221.63. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 5.28 and a beta of 0.56.

Sanderson Farms (NASDAQ:SAFMGet Rating) last issued its earnings results on Friday, May 27th. The company reported $14.39 earnings per share for the quarter, beating the consensus estimate of $6.81 by $7.58. Sanderson Farms had a net margin of 15.34% and a return on equity of 43.58%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business earned $4.34 EPS. The firm’s revenue was up 35.8% on a year-over-year basis. Equities analysts predict that Sanderson Farms will post 46.23 EPS for the current year.

Hedge Funds Weigh In On Sanderson Farms

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new position in Sanderson Farms in the second quarter valued at about $229,000. abrdn plc boosted its position in Sanderson Farms by 265.2% in the second quarter. abrdn plc now owns 62,731 shares of the company’s stock valued at $13,521,000 after buying an additional 45,555 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in Sanderson Farms in the second quarter valued at about $4,854,000. Capital Square LLC acquired a new position in Sanderson Farms in the second quarter valued at about $209,000. Finally, Fifth Third Bancorp raised its stake in shares of Sanderson Farms by 352.6% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after acquiring an additional 134 shares during the last quarter. 79.59% of the stock is currently owned by institutional investors and hedge funds.

Sanderson Farms Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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