Sanderson Farms Inc. (SAFM) Stock Price Up 3.1%
Sanderson Farms Inc. (NASDAQ:SAFM)’s share price rose 3.1% during trading on Wednesday . The company traded as high as $92.16 and last traded at $91.75, with a volume of 261,726 shares. The stock had previously closed at $88.99.
SAFM has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. JPMorgan Chase & Co. cut shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and dropped their price target for the stock 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 given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $81.71.
The stock has a market capitalization of $2.07 billion and a PE ratio of 15.10. The company has a 50-day moving average price of $87.62 and a 200-day moving average price of $87.78.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 26th. The company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.49. During the same quarter in the prior year, the company posted $3.13 earnings per share. The company had revenue of $692.10 million for the quarter, compared to analyst estimates of $671.61 million. The business’s revenue was down 3.4% on a year-over-year basis. Equities analysts predict that Sanderson Farms Inc. will post $6.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 9th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, August 5th.
A number of institutional investors recently bought and sold shares of the company. US Bancorp DE boosted its position in Sanderson Farms by 95.1% in the fourth quarter. US Bancorp DE now owns 14,376 shares of the company’s stock worth $1,115,000 after buying an additional 7,006 shares in the last quarter. Comerica Bank boosted its position in Sanderson Farms by 2.0% in the fourth quarter. Comerica Bank now owns 17,106 shares of the company’s stock worth $1,283,000 after buying an additional 333 shares in the last quarter. Suntrust Banks Inc. boosted its position in Sanderson Farms by 6.6% in the fourth quarter. Suntrust Banks Inc. now owns 29,108 shares of the company’s stock worth $2,256,000 after buying an additional 1,808 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Sanderson Farms by 19.2% in the fourth quarter. New York State Common Retirement Fund now owns 60,570 shares of the company’s stock worth $4,695,000 after buying an additional 9,772 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.
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