A number of other analysts have also recently commented on SAFM. Cleveland Research upgraded shares of Sanderson Farms from a neutral rating to a buy rating in a report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Sanderson Farms from a hold rating to a buy rating and set a $141.00 target price on the stock in a report on Tuesday, August 6th. Barclays set a $145.00 target price on shares of Sanderson Farms and gave the company a hold rating in a report on Friday, May 31st. TheStreet raised Sanderson Farms from a c+ rating to a b rating in a research report on Friday, June 7th. Finally, ValuEngine lowered Sanderson Farms from a strong-buy rating to a buy rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $126.00.
Shares of SAFM stock traded up $6.08 during mid-day trading on Thursday, reaching $149.99. 35,572 shares of the company’s stock traded hands, compared to its average volume of 336,261. Sanderson Farms has a 12 month low of $93.98 and a 12 month high of $158.32. The company has a market cap of $3.28 billion, a P/E ratio of 49.65 and a beta of 0.73. The company has a quick ratio of 1.41, a current ratio of 2.94 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $142.11 and its 200-day moving average price is $138.17.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 29th. The company reported $2.41 EPS for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.43). Sanderson Farms had a net margin of 0.99% and a return on equity of 2.86%. The business had revenue of $945.10 million for the quarter, compared to the consensus estimate of $970.10 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts predict that Sanderson Farms will post 5.7 earnings per share for the current year.
In other news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $153.86, for a total value of $76,930.00. Following the completion of the transaction, the director now owns 10,366 shares of the company’s stock, valued at approximately $1,594,912.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.55% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Hancock Whitney Corp raised its position in shares of Sanderson Farms by 1.6% in the 2nd quarter. Hancock Whitney Corp now owns 7,538 shares of the company’s stock worth $1,029,000 after purchasing an additional 116 shares during the last quarter. Verition Fund Management LLC purchased a new position in Sanderson Farms in the 2nd quarter worth about $1,228,000. Amundi Pioneer Asset Management Inc. raised its position in Sanderson Farms by 629.6% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 13,863 shares of the company’s stock worth $1,892,000 after buying an additional 11,963 shares during the last quarter. United Services Automobile Association raised its position in Sanderson Farms by 12.6% in the 2nd quarter. United Services Automobile Association now owns 8,665 shares of the company’s stock worth $1,183,000 after buying an additional 969 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in Sanderson Farms in the 2nd quarter worth about $6,477,000. 92.14% of the stock is owned by hedge funds and other institutional investors.
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-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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