Sanderson Farms, Inc. (NASDAQ:SAFM) Announces Quarterly Dividend of $0.44

Sanderson Farms, Inc. (NASDAQ:SAFMGet Rating) announced a quarterly dividend on Thursday, April 21st, Zacks reports. Stockholders of record on Tuesday, May 3rd will be paid a dividend of 0.44 per share on Tuesday, May 17th. This represents a $1.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Monday, May 2nd.

Sanderson Farms has a payout ratio of 10.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sanderson Farms to earn $26.14 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 6.7%.

Shares of SAFM stock opened at $189.03 on Friday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 6.61 and a beta of 0.70. Sanderson Farms has a one year low of $155.34 and a one year high of $200.00. The company’s fifty day moving average price is $182.72 and its 200-day moving average price is $186.01.

Sanderson Farms (NASDAQ:SAFMGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $8.64 EPS for the quarter. The firm had revenue of $1.33 billion for the quarter. Sanderson Farms had a net margin of 12.23% and a return on equity of 35.95%. As a group, equities analysts expect that Sanderson Farms will post 31.16 earnings per share for the current year.

A number of brokerages have issued reports on SAFM. StockNews.com began coverage on shares of Sanderson Farms in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a report on Tuesday, April 5th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $202.29.

Large investors have recently modified their holdings of the business. Paradigm Financial Partners LLC purchased a new position in shares of Sanderson Farms in the 4th quarter worth $231,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Sanderson Farms by 150.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,500 shares of the company’s stock worth $669,000 after buying an additional 2,100 shares in the last quarter. LPL Financial LLC grew its stake in shares of Sanderson Farms by 200.3% in the 4th quarter. LPL Financial LLC now owns 3,564 shares of the company’s stock worth $681,000 after buying an additional 2,377 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Sanderson Farms in the 4th quarter worth $737,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Sanderson Farms by 50.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,000 shares of the company’s stock worth $1,720,000 after buying an additional 3,000 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

About Sanderson Farms (Get Rating)

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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Dividend History for Sanderson Farms (NASDAQ:SAFM)

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