JPMorgan Chase & Co. upgraded shares of Sanderson Farms (NASDAQ:SAFM) from an underweight rating to a neutral rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $127.00 price objective on the stock, up from their prior price objective of $88.00.

SAFM has been the topic of several other reports. Jefferies Financial Group reaffirmed a sell rating and issued a $77.00 target price on shares of Sanderson Farms in a report on Wednesday, December 19th. BidaskClub cut Sanderson Farms from a buy rating to a hold rating in a report on Monday, February 25th. Zacks Investment Research reaffirmed a hold rating on shares of Sanderson Farms in a report on Thursday, November 15th. Mizuho raised Sanderson Farms from a neutral rating to a buy rating and lifted their target price for the stock from $101.00 to $130.00 in a report on Monday, January 28th. Finally, Barclays reduced their target price on Sanderson Farms from $110.00 to $105.00 and set an equal weight rating on the stock in a report on Tuesday, December 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $113.38.

Shares of Sanderson Farms stock opened at $128.41 on Wednesday. Sanderson Farms has a 52 week low of $93.98 and a 52 week high of $129.50. The stock has a market capitalization of $2.85 billion, a PE ratio of 42.52 and a beta of 0.76. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04.

Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.41) by $1.59. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The business had revenue of $743.40 million for the quarter, compared to the consensus estimate of $705.25 million. During the same period in the previous year, the business earned $2.24 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Sanderson Farms will post 1.23 EPS for the current fiscal year.

In other news, Director John Bierbusse sold 677 shares of Sanderson Farms stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total value of $77,137.38. Following the sale, the director now directly owns 12,675 shares of the company’s stock, valued at $1,444,189.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jones Gail Pittman sold 300 shares of the business’s stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $97.01, for a total value of $29,103.00. Following the sale, the director now directly owns 16,403 shares in the company, valued at $1,591,255.03. The disclosure for this sale can be found here. 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. Norges Bank bought a new stake in Sanderson Farms during the fourth quarter worth approximately $34,883,000. Nuance Investments LLC increased its stake in Sanderson Farms by 37.0% during the third quarter. Nuance Investments LLC now owns 1,070,399 shares of the company’s stock worth $110,573,000 after acquiring an additional 288,873 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Sanderson Farms by 12.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock worth $168,157,000 after acquiring an additional 186,527 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Sanderson Farms by 22.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock worth $74,705,000 after acquiring an additional 137,978 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in Sanderson Farms during the third quarter worth approximately $13,606,000. 97.67% of the stock is currently owned by institutional investors.

Sanderson Farms Company Profile

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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Analyst Recommendations for Sanderson Farms (NASDAQ:SAFM)

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