BMO Capital Markets restated their market perform rating on shares of Sanderson Farms (NASDAQ:SAFM) in a research report sent to investors on Friday. The brokerage currently has a $125.00 price target on the stock, down from their prior price target of $130.00.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Sanderson Farms from a strong-buy rating to a buy rating in a report on Thursday, January 4th. Morgan Stanley initiated coverage on shares of Sanderson Farms in a report on Friday, November 3rd. They set an equal weight rating and a $140.00 price objective for the company. Barclays reaffirmed an equal weight rating and set a $150.00 price objective (up from $136.00) on shares of Sanderson Farms in a report on Thursday, December 14th. Zacks Investment Research raised shares of Sanderson Farms from a strong sell rating to a hold rating in a report on Thursday, December 7th. Finally, Buckingham Research initiated coverage on shares of Sanderson Farms in a report on Wednesday, February 21st. They set a neutral rating and a $122.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $132.82.
Shares of Sanderson Farms (NASDAQ:SAFM) opened at $119.92 on Friday. The stock has a market cap of $2,738.47, a P/E ratio of 10.14 and a beta of 0.47. Sanderson Farms has a fifty-two week low of $90.67 and a fifty-two week high of $176.43.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, January 30th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, January 29th. Sanderson Farms’s dividend payout ratio (DPR) is presently 9.50%.
In related news, Director Jones Gail Pittman sold 260 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of SAFM. PNC Financial Services Group Inc. lifted its position in Sanderson Farms by 144.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after buying an additional 662 shares during the last quarter. Advisor Group Inc. lifted its position in Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares during the last quarter. State Street Corp lifted its position in Sanderson Farms by 7.2% in the second quarter. State Street Corp now owns 543,962 shares of the company’s stock worth $62,910,000 after buying an additional 36,489 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Sanderson Farms by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 16,426 shares of the company’s stock worth $1,900,000 after buying an additional 170 shares during the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in Sanderson Farms in the third quarter worth $2,630,000.
Sanderson Farms Company Profile
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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