Mizuho Reiterates $110.00 Price Target for Sanderson Farms (SAFM)

Mizuho set a $110.00 price target on Sanderson Farms (NASDAQ:SAFM) in a research note released on Tuesday. The brokerage currently has a hold rating on the stock.

A number of other brokerages also recently commented on SAFM. BidaskClub raised Sanderson Farms from a hold rating to a buy rating in a research report on Saturday, February 17th. BMO Capital Markets reaffirmed a hold rating and issued a $130.00 price objective on shares of Sanderson Farms in a research report on Friday, February 16th. Buckingham Research assumed coverage on Sanderson Farms in a research report on Wednesday, February 21st. They issued a neutral rating and a $122.00 price objective for the company. Vertical Group raised Sanderson Farms from a hold rating to a buy rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley reaffirmed a hold rating and issued a $115.00 price objective (down previously from $140.00) on shares of Sanderson Farms in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Sanderson Farms presently has an average rating of Hold and an average price target of $116.40.

Sanderson Farms stock opened at $97.88 on Tuesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 7.96 and a beta of 0.49. Sanderson Farms has a fifty-two week low of $97.48 and a fifty-two week high of $176.43.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, May 24th. The company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.67). The company had revenue of $813.50 million for the quarter, compared to analysts’ expectations of $839.64 million. Sanderson Farms had a return on equity of 16.79% and a net margin of 8.20%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.94 EPS. sell-side analysts forecast that Sanderson Farms will post 9.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Monday, April 30th. Sanderson Farms’s dividend payout ratio is currently 10.41%.

Several large investors have recently made changes to their positions in the company. Cambria Investment Management L.P. acquired a new position in Sanderson Farms in the first quarter valued at $217,000. Public Employees Retirement Association of Colorado acquired a new position in Sanderson Farms in the fourth quarter valued at $257,000. Quadrature Capital Ltd acquired a new position in Sanderson Farms in the first quarter valued at $222,000. Virtu Financial LLC acquired a new position in Sanderson Farms in the fourth quarter valued at $260,000. Finally, ETRADE Capital Management LLC boosted its holdings in Sanderson Farms by 26.9% in the fourth quarter. ETRADE Capital Management LLC now owns 1,967 shares of the company’s stock valued at $273,000 after acquiring an additional 417 shares during the last quarter.

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.

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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