Sanderson Farms (NASDAQ:SAFM) Reaches New 52-Week High at $211.42

Posted by on Jun 21st, 2022

Shares of Sanderson Farms, Inc. (NASDAQ:SAFM – Get Rating) hit a new 52-week high during trading on Tuesday . The company traded as high as $211.42 and last traded at $211.00, with a volume of 9036 shares trading hands. The stock had previously closed at $208.31.

A number of research firms have issued reports on SAFM. Consumer Edge downgraded shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 16th. StockNews.com began coverage on shares of Sanderson Farms in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $203.00.

The firm has a market capitalization of $4.71 billion, a PE ratio of 5.39 and a beta of 0.65. The company’s fifty day simple moving average is $193.95 and its 200 day simple moving average is $188.00.

Sanderson Farms (NASDAQ:SAFM – Get Rating) last announced its quarterly earnings results on Friday, May 27th. The company reported $14.39 earnings per share for the quarter, beating the consensus estimate of $7.42 by $6.97. Sanderson Farms had a return on equity of 43.58% and a net margin of 15.34%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business posted $4.34 earnings per share. The company’s revenue was up 35.8% on a year-over-year basis. Research analysts predict that Sanderson Farms, Inc. will post 48.02 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 17th. Stockholders of record on Tuesday, May 3rd were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, May 2nd. Sanderson Farms’s dividend payout ratio is presently 4.55%.

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Sanderson Farms in the fourth quarter worth approximately $270,000. Squarepoint Ops LLC bought a new position in shares of Sanderson Farms in the fourth quarter worth approximately $1,146,000. Calamos Advisors LLC grew its position in Sanderson Farms by 54.1% during the fourth quarter. Calamos Advisors LLC now owns 28,500 shares of the company’s stock valued at $5,446,000 after acquiring an additional 10,000 shares during the last quarter. Ares Management LLC grew its position in Sanderson Farms by 17.5% during the fourth quarter. Ares Management LLC now owns 6,700 shares of the company’s stock valued at $1,280,000 after acquiring an additional 1,000 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in Sanderson Farms by 9.6% during the fourth quarter. New York State Teachers Retirement System now owns 28,433 shares of the company’s stock valued at $5,433,000 after acquiring an additional 2,494 shares during the last quarter. Institutional investors own 79.59% of the company’s stock.

Sanderson Farms Company Profile (NASDAQ:SAFM)

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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