Sanderson Farms Inc. (SAFM) Trading 3.6% Higher
Sanderson Farms Inc. (NASDAQ:SAFM) traded up 3.6% on Wednesday . The stock traded as high as $88.21 and last traded at $87.81, with a volume of 192,544 shares traded. The stock had previously closed at $84.79.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Goldman Sachs Group Inc. cut shares of Sanderson Farms from a “neutral” rating to a “sell” rating and set a $75.00 price target for the company. in a research report on Tuesday, March 15th. Finally, JPMorgan Chase & Co. cut shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and lowered their price target 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 analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $81.71.
The stock has a 50-day moving average price of $85.06 and a 200-day moving average price of $85.71. The company has a market capitalization of $1.99 billion and a price-to-earnings ratio of 14.53.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, May 26th. The company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.49. The company had revenue of $692.10 million for the quarter, compared to analyst estimates of $671.61 million. During the same quarter in the prior year, the business earned $3.13 earnings per share. Sanderson Farms’s revenue was down 3.4% on a year-over-year basis. Equities analysts expect that Sanderson Farms Inc. will post $6.55 EPS for the current year.
Several large investors recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its stake in shares of Sanderson Farms by 56.1% in the fourth quarter. Nationwide Fund Advisors now owns 27,074 shares of the company’s stock worth $2,099,000 after buying an additional 9,731 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Sanderson Farms by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 41,578 shares of the company’s stock worth $3,223,000 after buying an additional 747 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Sanderson Farms by 15.8% in the fourth quarter. First Trust Advisors LP now owns 50,612 shares of the company’s stock worth $3,923,000 after buying an additional 6,917 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Sanderson Farms by 3.7% in the fourth quarter. Rhumbline Advisers now owns 37,593 shares of the company’s stock worth $2,914,000 after buying an additional 1,325 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Sanderson Farms by 1.4% in the fourth quarter. LSV Asset Management now owns 540,275 shares of the company’s stock worth $41,882,000 after buying an additional 7,300 shares in the last 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.