Sanderson Farms Inc. (SAFM) Earns Neutral Rating from Analysts at DA Davidson
DA Davidson initiated coverage on shares of Sanderson Farms Inc. (NASDAQ:SAFM) in a research note released on Wednesday morning. The brokerage issued a neutral rating and a $103.00 target price on the stock.
Separately, Zacks Investment Research upgraded shares of Sanderson Farms from a hold rating to a strong-buy rating and set a $102.00 target price for the company in a research note on Thursday, August 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $84.38.
Sanderson Farms (NASDAQ:SAFM) opened at 93.94 on Wednesday. Sanderson Farms has a 12-month low of $64.54 and a 12-month high of $99.40. The stock has a 50 day moving average of $95.04 and a 200 day moving average of $90.00. The company has a market cap of $2.12 billion, a PE ratio of 15.06 and a beta of 0.33.
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, topping analysts’ consensus estimates of $2.11 by $0.31. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The company earned $728 million during the quarter, compared to analyst estimates of $749.76 million. During the same period in the previous year, the business earned $2.27 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts expect that Sanderson Farms will post $7.38 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 4th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, September 30th. This is a positive change from Sanderson Farms’s previous special dividend of $0.50. This represents a dividend yield of 1.01%. Sanderson Farms’s dividend payout ratio (DPR) is 15.43%.
In other news, Director John Bierbusse sold 750 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $97.00, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 14,296 shares in the company, valued at $1,386,712. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.45% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of Sanderson Farms during the second quarter valued at $30,586,000. Prudential Financial Inc. boosted its position in Sanderson Farms by 510.9% in the second quarter. Prudential Financial Inc. now owns 372,595 shares of the company’s stock worth $32,282,000 after buying an additional 311,602 shares in the last quarter. Allianz Asset Management AG boosted its position in Sanderson Farms by 47.7% in the second quarter. Allianz Asset Management AG now owns 607,909 shares of the company’s stock worth $52,668,000 after buying an additional 196,275 shares in the last quarter. Bank of Montreal Can bought a new position in Sanderson Farms during the second quarter worth about $12,313,000. Finally, LSV Asset Management boosted its position in Sanderson Farms by 22.3% in the second quarter. LSV Asset Management now owns 683,075 shares of the company’s stock worth $59,181,000 after buying an additional 124,700 shares in the last quarter. Hedge funds and other institutional investors own 93.30% of the company’s stock.
About Sanderson Farms
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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