Sanderson Farms Inc. (NASDAQ:SAFM) – Investment analysts at DA Davidson issued their FY2016 earnings estimates for Sanderson Farms in a report issued on Tuesday. DA Davidson analyst E. Gottlieb expects that the firm will earn $7.58 per share for the year. DA Davidson currently has a “Neutral” rating and a $103.00 price target on the stock. DA Davidson also issued estimates for Sanderson Farms’ Q4 2016 earnings at $2.58 EPS, Q1 2017 earnings at $1.38 EPS, Q2 2017 earnings at $2.22 EPS, Q3 2017 earnings at $2.34 EPS, Q4 2017 earnings at $2.21 EPS, FY2017 earnings at $8.15 EPS, Q1 2018 earnings at $1.44 EPS, Q2 2018 earnings at $1.72 EPS, Q3 2018 earnings at $2.20 EPS and FY2018 earnings at $6.60 EPS.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 25th. The company reported $2.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.31. The company earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $2.27 EPS.
Separately, Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.38.
Sanderson Farms (NASDAQ:SAFM) traded down 4.41% during midday trading on Friday, hitting $89.07. The stock had a trading volume of 816,648 shares. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 14.28 and a beta of 0.33. The company has a 50-day moving average of $95.15 and a 200-day moving average of $89.92. Sanderson Farms has a 1-year low of $64.54 and a 1-year high of $99.40.
The firm also recently announced a special dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 30th. This is a boost from Sanderson Farms’s previous special dividend of $0.50. This represents a yield of 1.01%. Sanderson Farms’s dividend payout ratio is presently 15.43%.
In other Sanderson Farms news, Director John Bierbusse sold 750 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $97.00, for a total transaction of $72,750.00. Following the completion of the sale, the director now directly owns 14,296 shares in the company, valued at $1,386,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.45% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its stake in Sanderson Farms by 0.4% in the second quarter. Capstone Asset Management Co. now owns 7,640 shares of the company’s stock valued at $662,000 after buying an additional 30 shares during the last quarter. IndexIQ Advisors LLC increased its position in shares of Sanderson Farms by 0.6% in the second quarter. IndexIQ Advisors LLC now owns 7,591 shares of the company’s stock valued at $658,000 after buying an additional 42 shares during the period. PineBridge Investments L.P. increased its position in shares of Sanderson Farms by 3.8% in the second quarter. PineBridge Investments L.P. now owns 2,519 shares of the company’s stock valued at $218,000 after buying an additional 92 shares during the period. Meeder Asset Management Inc. increased its position in shares of Sanderson Farms by 5.1% in the second quarter. Meeder Asset Management Inc. now owns 1,942 shares of the company’s stock valued at $169,000 after buying an additional 95 shares during the period. Finally, Arizona State Retirement System increased its position in shares of 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. Hedge funds and other institutional investors own 93.29% of the company’s stock.
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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