Sanderson Farms Inc. (SAFM) Sets New 12-Month High at $95.98
Sanderson Farms Inc. (NASDAQ:SAFM) hit a new 52-week high during trading on Tuesday . The company traded as high as $95.98 and last traded at $95.49, with a volume of 167,201 shares changing hands. The stock had previously closed at $94.47.
SAFM has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price objective for the company in a research report on Thursday, August 11th. JPMorgan Chase & Co. downgraded 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 report on Friday, May 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $81.71.
The stock’s 50-day moving average price is $88.67 and its 200 day moving average price is $88.18. The company has a market capitalization of $2.16 billion and a P/E ratio of 15.78.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, May 26th. The company reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.49. The company earned $692.10 million during the quarter, compared to the consensus estimate of $671.61 million. During the same period in the previous year, the firm posted $3.13 EPS. Sanderson Farms’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that Sanderson Farms Inc. will post $7.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Tuesday, August 9th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, August 5th.
A hedge fund recently raised its stake in Sanderson Farms stock. US Bancorp DE raised its position in shares of Sanderson Farms Inc. (NASDAQ:SAFM) by 95.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,376 shares of the company’s stock after buying an additional 7,006 shares during the period. US Bancorp DE owned approximately 0.06% of Sanderson Farms worth $1,115,000 at the end of the most recent 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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