Sanderson Farms, Inc. (NASDAQ:SAFM) Receives $131.40 Consensus PT from Brokerages

Sanderson Farms, Inc. (NASDAQ:SAFM) has been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $137.36.

Several equities analysts have recently weighed in on SAFM shares. Bank of America upgraded shares of Sanderson Farms from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $133.00 to $180.00 in a research note on Thursday, November 14th. ValuEngine cut shares of Sanderson Farms from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 23rd. BidaskClub raised Sanderson Farms from a “hold” rating to a “buy” rating in a report on Saturday, December 7th. Finally, Credit Suisse Group initiated coverage on Sanderson Farms in a research report on Friday. They issued an “outperform” rating and a $197.00 price target for the company.

In other Sanderson Farms news, Director Robert C. Khayat sold 1,726 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $155.34, for a total value of $268,116.84. Following the sale, the director now owns 10,918 shares of the company’s stock, valued at approximately $1,696,002.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Lampkin Butts sold 10,000 shares of Sanderson Farms stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $155.17, for a total value of $1,551,700.00. Following the sale, the chief operating officer now owns 104,800 shares of the company’s stock, valued at approximately $16,261,816. The disclosure for this sale can be found here. 5.55% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY grew its stake in Sanderson Farms by 2.7% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,486 shares of the company’s stock worth $1,738,000 after buying an additional 300 shares in the last quarter. Man Group plc raised its position in shares of Sanderson Farms by 170.5% during the 3rd quarter. Man Group plc now owns 181,228 shares of the company’s stock valued at $27,425,000 after buying an additional 114,228 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Sanderson Farms during the 3rd quarter worth $1,008,000. California State Teachers Retirement System lifted its holdings in shares of Sanderson Farms by 0.9% during the 3rd quarter. California State Teachers Retirement System now owns 32,224 shares of the company’s stock worth $4,876,000 after acquiring an additional 295 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV grew its position in Sanderson Farms by 10.3% in the third quarter. Smith Shellnut Wilson LLC ADV now owns 4,028 shares of the company’s stock worth $610,000 after acquiring an additional 376 shares in the last quarter. 89.17% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ SAFM traded down $0.48 during trading on Monday, hitting $166.07. 304,232 shares of the company’s stock traded hands, compared to its average volume of 290,064. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 54.99 and a beta of 0.74. Sanderson Farms has a 12-month low of $93.98 and a 12-month high of $171.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.41 and a current ratio of 2.94. The business has a 50 day moving average of $159.63 and a 200-day moving average of $146.53.

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.

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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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