Sanderson Farms (NASDAQ:SAFM) Releases Earnings Results

Sanderson Farms (NASDAQ:SAFM) posted its quarterly earnings results on Thursday. The company reported $2.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.43), Morningstar.com reports. The firm had revenue of $945.10 million during the quarter, compared to the consensus estimate of $970.10 million. Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share.

SAFM stock opened at $149.62 on Friday. Sanderson Farms has a one year low of $93.98 and a one year high of $154.82. The company’s fifty day moving average price is $137.51 and its 200-day moving average price is $136.36. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.72 and a current ratio of 2.94. The company has a market capitalization of $3.27 billion, a PE ratio of 49.54 and a beta of 0.78.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, July 30th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, July 29th. Sanderson Farms’s dividend payout ratio (DPR) is presently 42.38%.



Several hedge funds have recently added to or reduced their stakes in SAFM. Artemis Investment Management LLP purchased a new position in shares of Sanderson Farms in the second quarter worth $36,474,000. Dimensional Fund Advisors LP raised its stake in Sanderson Farms by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock valued at $168,157,000 after purchasing an additional 186,527 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Sanderson Farms during the second quarter valued at $13,721,000. Vanguard Group Inc. raised its stake in Sanderson Farms by 5.4% during the second quarter. Vanguard Group Inc. now owns 1,939,007 shares of the company’s stock valued at $264,790,000 after purchasing an additional 100,076 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Sanderson Farms by 152.9% during the first quarter. JPMorgan Chase & Co. now owns 152,031 shares of the company’s stock valued at $20,044,000 after purchasing an additional 91,926 shares in the last quarter. 95.95% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on SAFM. Barclays set a $145.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a report on Friday, May 31st. TheStreet raised shares of Sanderson Farms from a “c+” rating to a “b” rating in a report on Friday, June 7th. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Cleveland Research raised shares of Sanderson Farms from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. Finally, Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.00.

About Sanderson Farms

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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Earnings History for Sanderson Farms (NASDAQ:SAFM)

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