Sanderson Farms, Inc. (SAFM) Given Consensus Recommendation of “Hold” by Analysts

Sanderson Farms, Inc. (NASDAQ:SAFM) has received an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $98.22.

Several analysts have recently issued reports on the stock. BidaskClub raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. ValuEngine raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. TheStreet lowered shares of Sanderson Farms from a “b” rating to a “c+” rating in a research report on Wednesday, August 29th. Stephens raised shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday, August 24th. Finally, Jefferies Financial Group reissued a “sell” rating and issued a $77.00 price target on shares of Sanderson Farms in a research report on Thursday, August 23rd.

Shares of NASDAQ SAFM traded up $0.04 during midday trading on Friday, hitting $104.09. The company’s stock had a trading volume of 290,691 shares, compared to its average volume of 486,563. Sanderson Farms has a one year low of $95.97 and a one year high of $176.43. The firm has a market cap of $2.38 billion, a P/E ratio of 8.38 and a beta of 0.38.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Tuesday, October 2nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, October 1st. This represents a $1.28 annualized dividend and a yield of 1.23%. Sanderson Farms’s dividend payout ratio is currently 10.41%.

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

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in Sanderson Farms by 101.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after buying an additional 491 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Sanderson Farms by 5,238.1% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after acquiring an additional 1,100 shares during the last quarter. Sun Life Financial INC bought a new stake in shares of Sanderson Farms in the 2nd quarter worth approximately $127,000. Parallel Advisors LLC lifted its holdings in shares of Sanderson Farms by 89.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock worth $132,000 after acquiring an additional 593 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Sanderson Farms by 346.3% in the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after acquiring an additional 1,233 shares during the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

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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