Wall Street brokerages forecast that Sanderson Farms, Inc. (NASDAQ:SAFM) will report sales of $829.88 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sanderson Farms’ earnings. The highest sales estimate is $849.76 million and the lowest is $810.00 million. Sanderson Farms posted sales of $813.47 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2%. The business is expected to issue its next quarterly earnings report on Thursday, May 23rd.
According to Zacks, analysts expect that Sanderson Farms will report full-year sales of $3.35 billion for the current year, with estimates ranging from $3.21 billion to $3.50 billion. For the next financial year, analysts expect that the firm will post sales of $3.61 billion, with estimates ranging from $3.54 billion to $3.69 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Sanderson Farms.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.82) by $1.00. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. The company had revenue of $743.40 million for the quarter, compared to the consensus estimate of $705.25 million. During the same period in the prior year, the firm posted $2.24 EPS. Sanderson Farms’s revenue for the quarter was down 3.7% on a year-over-year basis.
In other news, insider Lampkin Butts sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $127.82, for a total value of $1,278,200.00. Following the transaction, the insider now owns 121,611 shares in the company, valued at approximately $15,544,318.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Bierbusse sold 677 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total transaction of $77,137.38. Following the completion of the transaction, the director now owns 12,675 shares in the company, valued at approximately $1,444,189.50. The disclosure for this sale can be found here. Company insiders own 5.55% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Sanderson Farms by 1.1% in the 4th quarter. BlackRock Inc. now owns 2,314,543 shares of the company’s stock worth $229,810,000 after purchasing an additional 26,282 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Sanderson Farms by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock worth $168,157,000 after purchasing an additional 186,527 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Sanderson Farms by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,005,595 shares of the company’s stock worth $99,846,000 after purchasing an additional 21,788 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Sanderson Farms by 22.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock worth $74,705,000 after purchasing an additional 137,978 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sanderson Farms by 9.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 381,553 shares of the company’s stock worth $39,441,000 after purchasing an additional 34,105 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.
Shares of SAFM stock opened at $147.45 on Friday. Sanderson Farms has a one year low of $93.98 and a one year high of $151.08. The stock has a market cap of $3.18 billion, a P/E ratio of 48.82 and a beta of 0.78. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. Sanderson Farms’s payout ratio is presently 42.38%.
Sanderson Farms Company Profile
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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.
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