Sanderson Farms, Inc. (NASDAQ:SAFM) – Jefferies Group issued their FY2022 EPS estimates for shares of Sanderson Farms in a research note issued on Monday, Zacks Investment Research reports. Jefferies Group analyst A. Jagdale expects that the company will earn $10.29 per share for the year.
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Saturday, February 17th. Vertical Group upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Barclays reiterated an “equal weight” rating and issued a $150.00 target price (up previously from $136.00) on shares of Sanderson Farms in a report on Thursday, December 14th. BMO Capital Markets reiterated a “hold” rating and issued a $140.00 target price on shares of Sanderson Farms in a report on Monday, December 18th. Finally, Zacks Investment Research upgraded Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Sanderson Farms presently has an average rating of “Hold” and an average price target of $129.18.
Shares of Sanderson Farms (SAFM) traded up $3.23 on Wednesday, hitting $125.66. The stock had a trading volume of 465,529 shares, compared to its average volume of 544,373. The firm has a market cap of $2,788.48, a P/E ratio of 9.09 and a beta of 0.49. Sanderson Farms has a one year low of $92.66 and a one year high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.71). Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The firm had revenue of $771.90 million for the quarter, compared to analysts’ expectations of $764.22 million. During the same period in the prior year, the company posted $1.02 earnings per share. Sanderson Farms’s quarterly revenue was up 12.1% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, January 30th were issued a $0.32 dividend. The ex-dividend date was Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.02%. Sanderson Farms’s dividend payout ratio is currently 9.50%.
In related news, Director John Bierbusse sold 750 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $120.38, for a total value of $90,285.00. Following the transaction, the director now owns 12,944 shares in the company, valued at $1,558,198.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jones Gail Pittman sold 260 shares of the stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $140.92, for a total value of $36,639.20. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Sanderson Farms by 4.9% during the fourth quarter. BlackRock Inc. now owns 2,193,866 shares of the company’s stock valued at $304,466,000 after purchasing an additional 102,488 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Sanderson Farms by 39.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock valued at $248,391,000 after purchasing an additional 501,917 shares during the last quarter. LSV Asset Management grew its holdings in Sanderson Farms by 0.9% during the fourth quarter. LSV Asset Management now owns 1,137,916 shares of the company’s stock valued at $157,919,000 after purchasing an additional 10,500 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Sanderson Farms by 11.2% during the fourth quarter. Acadian Asset Management LLC now owns 692,119 shares of the company’s stock valued at $96,048,000 after purchasing an additional 69,797 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Sanderson Farms by 22.4% during the third quarter. Prudential Financial Inc. now owns 504,876 shares of the company’s stock valued at $81,547,000 after purchasing an additional 92,497 shares during the last quarter.
TRADEMARK VIOLATION WARNING: “Brokers Issue Forecasts for Sanderson Farms, Inc.’s FY2022 Earnings (NASDAQ:SAFM)” was published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://www.thelincolnianonline.com/2018/03/14/sanderson-farms-inc-safm-expected-to-post-fy2022-earnings-of-10-29-per-share.html.
About Sanderson Farms
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 also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.