Sanderson Farms (NASDAQ:SAFM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Sanderson Farms, Inc. is engaged in the production, processing, marketing and distribution of fresh, frozen and minimally prepared chicken. As a company, Sanderson Farms is committed to adopting a fresh approach in everything that it does. Not only where products are concerned, but companywide as well. Though the company has grown in size, it still adheres to the same hometown values of honesty, integrity and innovation that were established when the Sanderson family founded the company as a small feed, seed and farm supply business. “
Several other analysts also recently weighed in on the company. BMO Capital Markets reiterated a “hold” rating and issued a $140.00 price objective on shares of Sanderson Farms in a research report on Monday, December 18th. BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Buckingham Research initiated 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. JPMorgan Chase & Co. lowered their price objective on Sanderson Farms to $110.00 and set an “underweight” rating for the company in a research report on Friday, February 23rd. Finally, Barclays reiterated an “equal weight” rating and issued a $150.00 price objective (up previously from $136.00) on shares of Sanderson Farms in a research report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $129.18.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The company had revenue of $771.90 million during the quarter, compared to the consensus estimate of $764.22 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. equities analysts expect that Sanderson Farms will post 9.38 earnings per share for the current fiscal year.
In other news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction that occurred on 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 $1,558,198.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jones Gail Pittman sold 260 shares of the business’s stock in a transaction that occurred on 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 currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SAFM. Strs Ohio increased its stake in shares of Sanderson Farms by 57.1% during the third quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $355,000 after buying an additional 800 shares during the period. Nationwide Fund Advisors grew its stake in Sanderson Farms by 167.2% in the third quarter. Nationwide Fund Advisors now owns 53,064 shares of the company’s stock worth $8,571,000 after purchasing an additional 33,204 shares during the period. First Trust Advisors LP grew its stake in Sanderson Farms by 5.0% in the third quarter. First Trust Advisors LP now owns 49,951 shares of the company’s stock worth $8,068,000 after purchasing an additional 2,360 shares during the period. Aperio Group LLC grew its stake in Sanderson Farms by 28.6% in the third quarter. Aperio Group LLC now owns 22,899 shares of the company’s stock worth $3,699,000 after purchasing an additional 5,091 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in Sanderson Farms in the third quarter worth $953,000.
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About Sanderson Farms
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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