Sanderson Farms, Inc. (NASDAQ:SAFM) to Issue Quarterly Dividend of $0.44

Sanderson Farms, Inc. (NASDAQ:SAFMGet Rating) announced a quarterly dividend on Thursday, April 21st, Zacks reports. Investors of record on Tuesday, May 3rd will be given a dividend of 0.44 per share on Tuesday, May 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Monday, May 2nd.

Sanderson Farms has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sanderson Farms to earn $26.43 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 6.7%.

SAFM stock opened at $189.37 on Friday. Sanderson Farms has a fifty-two week low of $155.34 and a fifty-two week high of $200.00. The firm’s 50-day simple moving average is $183.68 and its 200 day simple moving average is $186.07. The stock has a market cap of $4.23 billion, a PE ratio of 6.62 and a beta of 0.70.

Sanderson Farms (NASDAQ:SAFMGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported $8.64 earnings per share for the quarter. Sanderson Farms had a net margin of 12.23% and a return on equity of 35.95%. The business had revenue of $1.33 billion for the quarter. On average, analysts expect that Sanderson Farms will post 31.89 earnings per share for the current fiscal year.

SAFM has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Sanderson Farms in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Tuesday, April 5th. Six research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.29.

A number of institutional investors have recently added to or reduced their stakes in the business. Paradigm Financial Partners LLC bought a new position in shares of Sanderson Farms during the 4th quarter valued at about $231,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Sanderson Farms by 150.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,500 shares of the company’s stock valued at $669,000 after purchasing an additional 2,100 shares in the last quarter. LPL Financial LLC boosted its position in shares of Sanderson Farms by 200.3% during the 4th quarter. LPL Financial LLC now owns 3,564 shares of the company’s stock valued at $681,000 after purchasing an additional 2,377 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Sanderson Farms during the 4th quarter valued at about $737,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Sanderson Farms by 50.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,000 shares of the company’s stock valued at $1,720,000 after purchasing an additional 3,000 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

About Sanderson Farms (Get Rating)

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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Dividend History for Sanderson Farms (NASDAQ:SAFM)

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