Sanderson Farms (NASDAQ:SAFM) Stock Rating Upgraded by BidaskClub

Share on StockTwits

Sanderson Farms (NASDAQ:SAFM) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, BidAskClub reports.

A number of other brokerages also recently commented on SAFM. ValuEngine downgraded Sanderson Farms from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 23rd. Bank of America upgraded Sanderson Farms from an “underperform” rating to a “buy” rating and lifted their price target for the company from $133.00 to $180.00 in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $131.40.

Shares of SAFM opened at $167.61 on Friday. The business’s 50-day moving average is $155.89 and its two-hundred day moving average is $145.98. The company has a market capitalization of $3.71 billion, a P/E ratio of 55.50 and a beta of 0.74. Sanderson Farms has a fifty-two week low of $93.98 and a fifty-two week 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.

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

A number of hedge funds and other institutional investors have recently modified their holdings of SAFM. Vanguard Group Inc. lifted its holdings 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. Artemis Investment Management LLP raised its position in shares of Sanderson Farms by 11.3% during the 3rd quarter. Artemis Investment Management LLP now owns 301,399 shares of the company’s stock worth $45,058,000 after purchasing an additional 30,664 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Sanderson Farms by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 299,099 shares of the company’s stock worth $40,844,000 after purchasing an additional 16,549 shares during 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 worth $27,425,000 after purchasing an additional 114,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Sanderson Farms by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 136,935 shares of the company’s stock valued at $18,700,000 after buying an additional 1,649 shares in the last quarter. 89.17% of the stock is owned by institutional investors.

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.

Read More: Dogs of the Dow

Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2020 BBNS.