Sanderson Farms Inc. (SAFM) to Issue Dividend Increase – $1.00 Per Share
Sanderson Farms Inc. (NASDAQ:SAFM) announced a special dividend on Thursday, September 22nd. Shareholders of record on Tuesday, October 4th will be given a dividend of 1.00 per share on Tuesday, October 18th. This is an increase from Sanderson Farms’s previous special dividend of $0.50.
A number of analysts have weighed in on the company. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Wednesday, July 27th. JPMorgan Chase & Co. cut Sanderson Farms from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $96.00 to $95.00 in a research report on Friday, May 27th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $81.71.
Sanderson Farms (NASDAQ:SAFM) opened at 95.54 on Friday. Sanderson Farms has a one year low of $64.54 and a one year high of $99.40. The firm has a market capitalization of $2.16 billion, a PE ratio of 15.32 and a beta of 0.05. The company’s 50-day moving average price is $93.59 and its 200 day moving average price is $89.56.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 25th. The company reported $2.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.31. The firm earned $728 million during the quarter, compared to analyst estimates of $749.76 million. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. Sanderson Farms’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. On average, analysts forecast that Sanderson Farms will post $7.39 earnings per share for the current year.
In related news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $97.00, for a total value of $72,750.00. Following the completion of the sale, the director now directly owns 14,296 shares of the company’s stock, valued at $1,386,712. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.45% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Fiera Capital Corp raised its position in Sanderson Farms by 0.9% in the second quarter. Fiera Capital Corp now owns 32,600 shares of the company’s stock valued at $2,824,000 after buying an additional 300 shares during the period. Arizona State Retirement System raised its position in Sanderson Farms by 1.0% in the second quarter. Arizona State Retirement System now owns 10,284 shares of the company’s stock valued at $891,000 after buying an additional 100 shares during the period. AQR Capital Management LLC raised its position in Sanderson Farms by 71.2% in the second quarter. AQR Capital Management LLC now owns 82,137 shares of the company’s stock valued at $7,117,000 after buying an additional 34,162 shares during the period. Paloma Partners Management Co bought a new position in Sanderson Farms during the second quarter valued at approximately $668,000. Finally, Barclays PLC raised its position in Sanderson Farms by 18.1% in the second quarter. Barclays PLC now owns 11,015 shares of the company’s stock valued at $954,000 after buying an additional 1,690 shares during the period. 93.29% of the stock is owned by institutional investors.
Sanderson Farms Company Profile
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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