Sanderson Farms Director Sells $585,194 in Stock (SAFM)

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Sanderson Farms (NASDAQ:SAFM) Director Dianne Mooney sold 6,010 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $97.37, for a total value of $585,193.70. Following the transaction, the director now directly owns 8,944 shares of the company’s stock, valued at approximately $870,877. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Sanderson Farms (NASDAQ:SAFM) traded down 0.81% during mid-day trading on Friday, hitting $96.51. 385,460 shares of the company’s stock traded hands. Sanderson Farms has a one year low of $59.77 and a one year high of $97.84. The stock’s 50-day moving average is $85.82 and its 200-day moving average is $76.55. The company has a market cap of $2.227 billion and a price-to-earnings ratio of 11.62.

Sanderson Farms (NASDAQ:SAFM) last released its earnings data on Thursday, May 29th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.53. The company had revenue of $660.70 million for the quarter, compared to the consensus estimate of $620.99 million. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Sanderson Farms will post $9.01 EPS for the current fiscal year.

A number of research firms have recently commented on SAFM. Analysts at JPMorgan Chase & Co. raised their price target on shares of Sanderson Farms from $81.00 to $82.00 in a research note on Friday, May 30th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Sanderson Farms from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 29th. They now have a $89.70 price target on the stock. Finally, analysts at Goldman Sachs downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $80.00 price target on the stock. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and an average target price of $76.95.

Sanderson Farms, Inc is a poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products.

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