Sanderson Farms, Inc. (NASDAQ:SAFM) Short Interest Update

Sanderson Farms, Inc. (NASDAQ:SAFM) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,992,500 shares, a decrease of 6.9% from the June 30th total of 2,141,200 shares. Based on an average trading volume of 392,300 shares, the short-interest ratio is presently 5.1 days. Approximately 10.1% of the shares of the stock are short sold.

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Sanderson Farms by 12.4% in the fourth 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 last quarter. Bank of America Corp DE boosted its position in Sanderson Farms by 241.8% in the fourth quarter. Bank of America Corp DE now owns 62,179 shares of the company’s stock worth $6,173,000 after purchasing an additional 43,990 shares during the last quarter. Legal & General Group Plc boosted its position in Sanderson Farms by 9.3% in the fourth quarter. Legal & General Group Plc now owns 27,583 shares of the company’s stock worth $2,738,000 after purchasing an additional 2,352 shares during the last quarter. Geode Capital Management LLC boosted its position in Sanderson Farms by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 236,930 shares of the company’s stock worth $23,524,000 after purchasing an additional 18,291 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Sanderson Farms in the first quarter worth about $539,000. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

SAFM stock traded up $1.61 on Friday, reaching $143.31. The company had a trading volume of 386,879 shares, compared to its average volume of 416,763. Sanderson Farms has a 1 year low of $93.98 and a 1 year high of $154.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 3.42. The company’s fifty day moving average is $135.94 and its 200 day moving average is $134.90. The company has a market cap of $3.14 billion, a P/E ratio of 47.45 and a beta of 0.78.



Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, May 30th. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.06. Sanderson Farms had a negative return on equity of 0.13% and a negative net margin of 0.28%. The firm had revenue of $845.23 million for the quarter, compared to analyst estimates of $846.70 million. During the same quarter in the prior year, the company earned $1.84 EPS. Sanderson Farms’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Sanderson Farms will post 6.22 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, July 30th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, July 29th. Sanderson Farms’s payout ratio is currently 42.38%.

A number of equities research analysts recently weighed in on the company. Barclays set a $145.00 price target on Sanderson Farms and gave the stock a “hold” rating in a report on Friday, May 31st. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday. Goldman Sachs Group upgraded Sanderson Farms from a “sell” rating to a “neutral” rating and upped their price target for the stock from $81.00 to $131.00 in a report on Tuesday, April 23rd. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a report on Tuesday, August 6th. Finally, Cleveland Research upgraded Sanderson Farms from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $126.00.

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.

Read More: Day Trading – Risk Worth the Reward?

Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.