A number of other research firms also recently issued reports on SAFM. Zacks Investment Research upgraded Sanderson Farms from a strong sell rating to a hold rating in a research note on Thursday, December 7th. Morgan Stanley assumed coverage on Sanderson Farms in a research note on Friday, November 3rd. They set an equal weight rating and a $140.00 price target for the company. KeyCorp initiated coverage on Sanderson Farms in a research note on Tuesday, October 31st. They set a sector weight rating for the company. BMO Capital Markets reaffirmed a hold rating and set a $140.00 price objective on shares of Sanderson Farms in a research report on Monday, December 18th. Finally, BidaskClub cut Sanderson Farms from a strong-buy rating to a buy rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Sanderson Farms currently has an average rating of Hold and a consensus price target of $129.18.
Shares of Sanderson Farms (NASDAQ SAFM) opened at $124.16 on Friday. The stock has a market capitalization of $2,830.00, a PE ratio of 10.50 and a beta of 0.47. Sanderson Farms has a 52 week low of $90.67 and a 52 week high of $176.43.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th were given a dividend of $0.32 per share. The ex-dividend date was Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.03%. Sanderson Farms’s payout ratio is currently 10.82%.
In other news, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.38, for a total transaction of $90,285.00. Following the transaction, the director now directly owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jones Gail Pittman sold 260 shares of Sanderson Farms stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total value of $36,639.20. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SAFM. PNC Financial Services Group Inc. lifted its holdings in Sanderson Farms by 144.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after purchasing an additional 662 shares in the last quarter. World Asset Management Inc purchased a new position in Sanderson Farms in the 3rd quarter worth approximately $207,000. Saturna Capital CORP purchased a new position in Sanderson Farms in the 3rd quarter worth approximately $226,000. Stratos Wealth Partners LTD. purchased a new position in Sanderson Farms in the 3rd quarter worth approximately $234,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in Sanderson Farms in the 4th quarter worth approximately $257,000.
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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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