Sanderson Farms (NASDAQ:SAFM) Releases Quarterly Earnings Results

Sanderson Farms (NASDAQ:SAFMGet Rating) released its quarterly earnings results on Friday. The company reported $14.39 EPS for the quarter, beating the consensus estimate of $7.42 by $6.97, Briefing.com reports. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.39 billion. Sanderson Farms had a net margin of 12.23% and a return on equity of 35.95%. The company’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.34 earnings per share.

NASDAQ:SAFM traded up $5.51 during midday trading on Friday, hitting $200.00. The company’s stock had a trading volume of 1,204,510 shares, compared to its average volume of 201,755. Sanderson Farms has a fifty-two week low of $155.34 and a fifty-two week high of $201.50. The firm’s 50 day moving average is $187.89 and its 200-day moving average is $186.21. The firm has a market cap of $4.46 billion, a P/E ratio of 6.99 and a beta of 0.65.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 17th. Investors of record on Tuesday, May 3rd were issued a $0.44 dividend. The ex-dividend date was Monday, May 2nd. This represents a $1.76 annualized dividend and a yield of 0.88%. Sanderson Farms’s dividend payout ratio (DPR) is presently 6.15%.

Several research firms have commented on SAFM. StockNews.com began coverage on shares of Sanderson Farms in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Zacks Investment Research lowered shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $202.29.

Large investors have recently modified their holdings of the stock. LPL Financial LLC increased its holdings in 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 during the period. Schonfeld Strategic Advisors LLC increased its holdings in 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 during the period. Shay Capital LLC acquired a new stake in shares of Sanderson Farms during the 1st quarter worth approximately $562,000. SVB Wealth LLC acquired a new stake in shares of Sanderson Farms during the 1st quarter worth approximately $382,000. Finally, Engineers Gate Manager LP grew its stake in shares of Sanderson Farms by 9.0% during the 1st quarter. Engineers Gate Manager LP now owns 1,700 shares of the company’s stock worth $319,000 after purchasing an additional 141 shares during the period. Institutional investors own 79.59% of the company’s stock.

Sanderson Farms Company Profile (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.

See Also

Earnings History for Sanderson Farms (NASDAQ:SAFM)

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