Sanderson Farms Inc. (NASDAQ:SAFM) dropped 1.9% on Friday . The stock traded as low as $85.15 and last traded at $85.39, with a volume of 365,815 shares trading hands. The stock had previously closed at $87.01.

SAFM has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and lowered their target price 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. Zacks Investment Research downgraded shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $81.71.

The company has a 50 day moving average of $84.89 and a 200-day moving average of $86.07. The company has a market capitalization of $1.93 billion and a price-to-earnings ratio of 14.06.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 26th. The company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.62 by $0.49. During the same quarter in the prior year, the company posted $3.13 earnings per share. The company earned $692.10 million during the quarter, compared to analyst estimates of $671.61 million. The business’s revenue was down 3.4% compared to the same quarter last year. Analysts predict that Sanderson Farms Inc. will post $6.58 EPS for the current fiscal year.

Other large investors have made changes to their positions in the company. Burney Co. increased its stake in shares of Sanderson Farms by 0.5% in the fourth quarter. Burney Co. now owns 16,656 shares of the company’s stock valued at $1,351,000 after buying an additional 83 shares during the last quarter. New Amsterdam Partners LLC NY increased its stake in shares of Sanderson Farms by 0.4% in the fourth quarter. New Amsterdam Partners LLC NY now owns 63,374 shares of the company’s stock valued at $4,913,000 after buying an additional 270 shares during the last quarter. Comerica Bank increased its stake in shares of Sanderson Farms by 2.0% in the fourth quarter. Comerica Bank now owns 17,106 shares of the company’s stock valued at $1,283,000 after buying an additional 333 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Sanderson Farms by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 41,578 shares of the company’s stock valued at $3,223,000 after buying an additional 747 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Sanderson Farms by 3.7% in the fourth quarter. Rhumbline Advisers now owns 37,593 shares of the company’s stock valued at $2,914,000 after buying an additional 1,325 shares during the last quarter.

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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