BMO Capital Markets restated their hold rating on shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in a research note published on Tuesday morning. The brokerage currently has a $130.00 price objective on the stock.
Other analysts have also issued research reports about the stock. Mizuho started coverage on shares of Sanderson Farms in a report on Wednesday, June 7th. They issued a buy rating and a $142.00 price target for the company. Barclays PLC initiated coverage on shares of Sanderson Farms in a report on Tuesday, June 6th. They set an equal weight rating and a $125.00 target price for the company. Zacks Investment Research lowered shares of Sanderson Farms from a strong-buy rating to a hold rating in a report on Friday, May 5th. Sidoti lowered shares of Sanderson Farms from a buy rating to a neutral rating in a report on Friday, April 7th. They noted that the move was a valuation call. Finally, KeyCorp raised shares of Sanderson Farms from a sector weight rating to an overweight rating and set a $120.00 target price for the company in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms has an average rating of Buy and a consensus target price of $118.89.
Shares of Sanderson Farms (SAFM) traded up 0.48% during trading on Tuesday, reaching $118.35. The company had a trading volume of 65,301 shares. The firm has a 50-day moving average of $119.32 and a 200-day moving average of $102.47. Sanderson Farms has a 12-month low of $74.07 and a 12-month high of $129.50. The company has a market cap of $2.69 billion, a P/E ratio of 12.15 and a beta of 0.45.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.22. The business had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. Sanderson Farms’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. On average, equities research analysts anticipate that Sanderson Farms will post $10.56 EPS for the current year.
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In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the sale, the director now owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction on Friday, May 26th. The stock was sold at an average price of $121.50, for a total transaction of $60,750.00. Following the sale, the director now directly owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The disclosure for this sale can be found here. 5.66% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Sanderson Farms by 38,073.7% in the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock valued at $280,451,000 after buying an additional 2,693,713 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sanderson Farms by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock valued at $142,725,000 after buying an additional 411,406 shares during the period. Norges Bank purchased a new position in shares of Sanderson Farms during the fourth quarter valued at about $21,881,000. LSV Asset Management raised its position in shares of Sanderson Farms by 15.0% in the first quarter. LSV Asset Management now owns 1,077,121 shares of the company’s stock valued at $111,848,000 after buying an additional 140,492 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock valued at $187,418,000 after buying an additional 122,658 shares during the period.
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 also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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