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SANDERSON FARMS, INC.

(SAFM)
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Sanderson Farms : Chicken producer Sanderson Farms explores sale - source

06/21/2021 | 06:08pm EDT

June 21 (Reuters) - Chicken producer Sanderson Farms Inc is exploring a sale, according to a source familiar with the matter, at a time demand for its products is on the rise as restaurants reopen for business.

The company's shares rose about 9% to $181 after the closing bell.

Sanderson Farms has drawn interest from buyers including agricultural investment firm Continental Grain Co, which owns a smaller chicken processor, Wayne Farms, the source said.

The deal would form a company producing about 15% of the country's chicken meat. The second largest company, Pilgrim's Pride Corp, produces about 16%, according to the Wall Street Journal https://www.wsj.com/articles/sanderson-farms-explores-sale-11624305575, which first reported the news.

Prices of chicken products, especially those of wings and breasts, have risen as easing restrictions are bringing consumers back to restaurants and more fast-food chains are battling to create fried-chicken sandwiches.

Last year, Sanderson Farms said it had rejected an unsolicited proposal from Durational Capital Management, a new shareholder, for $142 per share, as it undervalued the company.

The Laurel, Mississippi-based company has a market share of about $3.5 billion.

Sanderson Farms declined a Reuters request for comment.

(Reporting by Nivedita Balu in Bengaluru and Greg Roumeliotis in New York; Editing by Vinay Dwivedi)


ę Reuters 2021
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Financials (USD)
Sales 2021 4 477 M - -
Net income 2021 356 M - -
Net cash 2021 230 M - -
P/E ratio 2021 12,4x
Yield 2021 0,97%
Capitalization 4 047 M 4 047 M -
EV / Sales 2021 0,85x
EV / Sales 2022 0,79x
Nbr of Employees 17 445
Free-Float 90,2%
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Technical analysis trends SANDERSON FARMS, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 181,30 $
Average target price 181,50 $
Spread / Average Target 0,11%
EPS Revisions
Managers and Directors
Joe Frank Sanderson Chairman & Chief Executive Officer
Lampkin Butts President, Chief Operating Officer & Director
D. Michael Cockrell CFO, Treasurer, Director & Chief Legal Officer
Beverly Wade Hogan Independent Director
Phil K. Livingston Lead Independent Director
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