Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $95.60.
Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $105.00 price target on shares of Sanderson Farms in a research report on Wednesday, April 12th. Sidoti cut shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research report on Friday, April 7th. They noted that the move was a valuation call. Jefferies Group LLC reiterated an “underperform” rating and set a $60.00 price objective on shares of Sanderson Farms in a research note on Monday, February 27th. KeyCorp upgraded shares of Sanderson Farms from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research note on Monday, March 27th. Finally, Zacks Investment Research lowered shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th.
In other news, Treasurer D Michael Cockrell sold 5,619 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $103.71, for a total value of $582,746.49. Following the sale, the treasurer now directly owns 87,437 shares of the company’s stock, valued at approximately $9,068,091.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert C. Khayat sold 1,210 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $93.81, for a total transaction of $113,510.10. Following the completion of the sale, the director now directly owns 13,794 shares in the company, valued at $1,294,015.14. The disclosure for this sale can be found here. Insiders have sold a total of 8,529 shares of company stock worth $853,643 in the last 90 days. 5.66% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. New Amsterdam Partners LLC NY purchased a new stake in shares of Sanderson Farms during the third quarter worth about $2,844,000. Aperio Group LLC increased its stake in shares of Sanderson Farms by 12.8% in the third quarter. Aperio Group LLC now owns 11,518 shares of the company’s stock worth $1,110,000 after buying an additional 1,303 shares during the period. First Trust Advisors LP increased its stake in shares of Sanderson Farms by 27.5% in the third quarter. First Trust Advisors LP now owns 43,001 shares of the company’s stock worth $4,142,000 after buying an additional 9,266 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in shares of Sanderson Farms during the third quarter worth about $7,225,000. Finally, Wells Fargo & Company MN increased its stake in shares of Sanderson Farms by 0.8% in the third quarter. Wells Fargo & Company MN now owns 69,585 shares of the company’s stock worth $6,704,000 after buying an additional 578 shares during the period. 98.46% of the stock is currently owned by hedge funds and other institutional investors.
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Sanderson Farms (NASDAQ:SAFM) traded up 2.54% during midday trading on Tuesday, hitting $114.17. The company had a trading volume of 376,861 shares. Sanderson Farms has a 52 week low of $74.07 and a 52 week high of $115.90. The firm’s 50 day moving average is $100.35 and its 200-day moving average is $92.81. The firm has a market capitalization of $2.60 billion, a P/E ratio of 12.82 and a beta of 0.34.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.42 by $0.40. Sanderson Farms had a return on equity of 16.94% and a net margin of 6.71%. The business earned $688.35 million during the quarter, compared to analysts’ expectations of $695.66 million. During the same period in the previous year, the company posted $0.47 EPS. Sanderson Farms’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Sanderson Farms will post $8.23 EPS for the current fiscal year.
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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