Sanderson Farms Inc. (SAFM) Reaches New 1-Year High at $95.98
Sanderson Farms Inc. (NASDAQ:SAFM)’s share price reached 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 traded. The stock had previously closed at $94.47.
A number of equities analysts recently commented on SAFM shares. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price target for the company in a report on Thursday, August 11th. JPMorgan Chase & Co. cut Sanderson Farms from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $96.00 to $95.00 in a 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 given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $81.71.
The firm’s 50 day moving average price is $89.17 and its 200-day moving average price is $88.34. The firm has a market capitalization of $2.15 billion and a P/E ratio of 15.66.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were issued a $0.22 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.92%.
A hedge fund recently raised its stake in Sanderson Farms stock. US Bancorp DE raised its position in Sanderson Farms Inc. (NASDAQ:SAFM) by 95.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the SEC.
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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