Sanderson Farms Inc. (SAFM) Sees Strong Trading Volume
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) saw unusually-high trading volume on Wednesday . Approximately 280,756 shares were traded during trading, a decline of 6% from the previous session’s volume of 298,422 shares.The stock last traded at $95.26 and had previously closed at $96.12.
SAFM has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price target for the company in a research note on Thursday, August 11th. JPMorgan Chase & Co. lowered shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and decreased their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Sanderson Farms currently has a consensus rating of “Hold” and a consensus target price of $81.71.
The firm has a 50-day moving average price of $89.41 and a 200 day moving average price of $88.40. The company has a market cap of $2.22 billion and a P/E ratio of 16.17.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, August 25th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.31. The business earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. On average, analysts predict that Sanderson Farms Inc. will post $6.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Friday, August 5th.
An institutional investor recently raised its position in Sanderson Farms stock. US Bancorp DE boosted its stake 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 (SEC). The institutional investor owned 14,376 shares of the company’s stock after buying an additional 7,006 shares during the period. US Bancorp DE owned 0.06% of Sanderson Farms worth $1,115,000 at the end of the most recent reporting period.
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.