Sanderson Farms, Inc. (NASDAQ:SAFM).
On June 8 analysts at Mizuho started covering SAFM with a rating of “Buy”. Equity analyst Barclays initiated coverage on SAFM with an initial rating of “Equal-Weight”.
Equity analyst DA Davidson lowered the price target and upgraded the stock on December 5 changing the price objective from $103.00 to $98.00 and changing the rating from “Neutral” to “Buy”. On December 5 the stock rating was upgraded from “Neutral” to “Buy” with a current price target of $98.00 in an announcement from DA Davidson.
On December 2, 2016 KeyBanc started covering the stock giving it an initial rating of “Sector Weight”.
The company is so far trading up by 1.84% since yesterday’s close of $125.78. Sanderson Farms, Inc. declared a dividend for shareholders that was paid on Tue May 23, 2017. The dividend was $0.240 per share for the quarter which is $0.96 annualized. This dividend amount represented a yeild of $0.75. The ex-dividend date was set for Friday the 5th of May 2017.
Company chares are trading at $128.10 a tad higher than the 50 day moving average of $116.76 and which is slightly above the 200 day moving average of $99.94. The 50 day moving average moved up $11.34 and the 200 day average was up $28.16.
Sanderson Farms, Inc., launched on October 31, 1978, is a poultry processing company. The Company is involved in the production, processing, marketing and distribution of fresh and frozen chicken. In addition, the Company is involved in the preparation, processing, marketing and distribution of processed and minimally prepared chicken. The Company sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors and casual dining operators in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets. As of October 31, 2016, the Business’s fresh and frozen chicken operations consisted of nine hatcheries, eight feed mills and 10 processing plants..
The most current P/E ratio is 13.15 and market capitalization is 2.91B. In the latest earnings report the EPS was $9.74 and is estimated to be $10.70 for the current year with 22,742,000 shares outstanding. Next quarter’s EPS is forecasted to be $3.31 with next year’s EPS projected to be $9.94.
Traders are feeling more bullish on shares of Sanderson Farms, Inc. as evidenced by the motion in short interest. The company saw a fall in short interest of -1.66% between May 15, 2017 and May 31, 2017. Short interest fell 92,230 over that timeframe. The days to cover decreased to 11.9 and the percentage of shorted shares is 0.24% as of May 31.