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.
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.
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