Sanderson Farms (SAFM) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Sanderson Farms (NASDAQ:SAFM) from a buy rating to a strong-buy rating in a research note released on Tuesday morning.

Several other research analysts have also issued reports on SAFM. ValuEngine upgraded shares of Sanderson Farms from a hold rating to a buy rating in a research report on Thursday, November 1st. Mizuho set a $105.00 target price on shares of Sanderson Farms and gave the stock a hold rating in a research report on Wednesday, July 25th. Buckingham Research set a $95.00 target price on shares of Sanderson Farms and gave the stock a hold rating in a research report on Wednesday, July 25th. Stephens upgraded shares of Sanderson Farms from an equal weight rating to an overweight rating and set a $95.00 target price for the company in a research report on Friday, August 24th. Finally, TheStreet lowered shares of Sanderson Farms from a b rating to a c+ rating in a research report on Wednesday, August 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms has a consensus rating of Hold and an average target price of $98.22.

Shares of Sanderson Farms stock traded down $0.44 during trading on Tuesday, hitting $103.61. The stock had a trading volume of 7,856 shares, compared to its average volume of 367,506. The stock has a market cap of $2.38 billion, a P/E ratio of 8.53 and a beta of 0.38. Sanderson Farms has a 12 month low of $95.97 and a 12 month high of $176.43.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($1.17). Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The firm had revenue of $852.40 million during the quarter, compared to the consensus estimate of $871.06 million. During the same period in the previous year, the company posted $5.09 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Sanderson Farms will post 2.14 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Tuesday, October 2nd were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $1.28 annualized dividend and a yield of 1.24%. Sanderson Farms’s dividend payout ratio (DPR) is presently 10.41%.

In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now directly owns 9,682 shares in the company, valued at $1,037,329.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Bierbusse sold 875 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $109.94, for a total transaction of $96,197.50. Following the sale, the director now owns 12,086 shares of the company’s stock, valued at $1,328,734.84. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in Sanderson Farms by 101.0% during the third quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock valued at $100,000 after buying an additional 491 shares during the period. Rehmann Capital Advisory Group boosted its position in Sanderson Farms by 5,238.1% during the second quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock valued at $118,000 after buying an additional 1,100 shares during the period. Sun Life Financial INC purchased a new stake in Sanderson Farms during the second quarter valued at about $127,000. Parallel Advisors LLC boosted its position in Sanderson Farms by 89.2% during the second quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock valued at $132,000 after buying an additional 593 shares during the period. Finally, Sei Investments Co. boosted its position in Sanderson Farms by 346.3% during the second quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock valued at $167,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

About Sanderson Farms

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. 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 in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken in the export markets.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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