Sanderson Farms Inc. (SAFM) Trading 0.4% Higher
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) traded up 0.4% during trading on Tuesday . The company traded as high as $95.16 and last traded at $94.25, with a volume of 127,970 shares changing hands. The stock had previously closed at $93.87.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. lowered shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $96.00 to $95.00 in a research note on Friday, May 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $81.71.
The firm has a market cap of $2.13 billion, a P/E ratio of 15.12 and a beta of 0.05. The firm’s 50-day moving average price is $92.00 and its 200 day moving average price is $89.34.
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Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 25th. The company reported $2.42 EPS for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.31. The firm earned $728 million during the quarter, compared to analyst estimates of $749.76 million. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.27 earnings per share. Analysts forecast that Sanderson Farms Inc. will post $7.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.94%. Sanderson Farms’s payout ratio is 14.15%.
In related news, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $97.00, for a total value of $72,750.00. Following the completion of the sale, the director now directly owns 14,296 shares in the company, valued at $1,386,712. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.45% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new stake in shares of Sanderson Farms during the second quarter worth approximately $337,000. Royal Bank of Canada raised its stake in shares of Sanderson Farms by 122.4% in the second quarter. Royal Bank of Canada now owns 15,078 shares of the company’s stock worth $1,307,000 after buying an additional 8,299 shares during the last quarter. Howe & Rusling Inc. raised its stake in shares of Sanderson Farms by 6.5% in the second quarter. Howe & Rusling Inc. now owns 5,245 shares of the company’s stock worth $454,000 after buying an additional 322 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Sanderson Farms by 123.1% in the second quarter. Public Employees Retirement System of Ohio now owns 8,769 shares of the company’s stock worth $760,000 after buying an additional 4,838 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Sanderson Farms by 21.8% in the second quarter. Legal & General Group Plc now owns 5,957 shares of the company’s stock worth $512,000 after buying an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and the preparation, processing, marketing and distribution of processed and prepared chicken items. 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 principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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