Sanderson Farms Inc. (SAFM) Trading Up 3.1%
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) were up 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 changing hands. The stock had previously closed at $88.99.
A number of analysts have commented on SAFM shares. JPMorgan Chase & Co. cut shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $96.00 to $95.00 in a report on Friday, May 27th. They noted that the move was a valuation call. Zacks Investment Research raised 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 report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms presently has an average rating of “Hold” and an average price target of $81.71.
The stock has a market capitalization of $2.12 billion and a price-to-earnings ratio of 15.42. The firm has a 50-day moving average price of $88.20 and a 200-day moving average price of $87.85.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, May 26th. The company reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.49. The company earned $692.10 million during the quarter, compared to analyst estimates of $671.61 million. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $3.13 earnings per share. Equities research analysts anticipate that Sanderson Farms Inc. will post $7.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, August 5th.
A number of hedge funds recently added to or reduced their stakes in SAFM. New York State Common Retirement Fund boosted its stake 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 during the period. Comerica Bank boosted its stake 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 during the period. Finally, US Bancorp DE boosted its stake 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 during the 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.
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