Intrinsic value of Sanderson Farms - SAFM

Previous Close

$100.58

  Intrinsic Value

$515.33

stock screener

  Rating & Target

str. buy

+412%

Previous close

$100.58

 
Intrinsic value

$515.33

 
Up/down potential

+412%

 
Rating

str. buy

We calculate the intrinsic value of SAFM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.70
  17.33
  16.10
  14.99
  13.99
  13.09
  12.28
  11.55
  10.90
  10.31
  9.78
  9.30
  8.87
  8.48
  8.13
  7.82
  7.54
  7.28
  7.06
  6.85
  6.67
  6.50
  6.35
  6.21
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
Revenue, $m
  3,967
  4,654
  5,404
  6,214
  7,083
  8,010
  8,993
  10,032
  11,126
  12,273
  13,472
  14,725
  16,031
  17,391
  18,806
  20,276
  21,805
  23,393
  25,044
  26,760
  28,544
  30,399
  32,329
  34,338
  36,430
  38,610
  40,882
  43,252
  45,724
  48,305
Variable operating expenses, $m
  2,979
  3,495
  4,058
  4,666
  5,319
  6,015
  6,754
  7,534
  8,355
  9,217
  10,118
  11,059
  12,039
  13,061
  14,123
  15,228
  16,376
  17,568
  18,808
  20,097
  21,436
  22,829
  24,279
  25,788
  27,359
  28,996
  30,702
  32,482
  34,339
  36,277
Fixed operating expenses, $m
  425
  435
  444
  454
  464
  474
  484
  495
  506
  517
  529
  540
  552
  564
  577
  589
  602
  615
  629
  643
  657
  671
  686
  701
  717
  733
  749
  765
  782
  799
Total operating expenses, $m
  3,404
  3,930
  4,502
  5,120
  5,783
  6,489
  7,238
  8,029
  8,861
  9,734
  10,647
  11,599
  12,591
  13,625
  14,700
  15,817
  16,978
  18,183
  19,437
  20,740
  22,093
  23,500
  24,965
  26,489
  28,076
  29,729
  31,451
  33,247
  35,121
  37,076
Operating income, $m
  563
  724
  901
  1,093
  1,300
  1,520
  1,755
  2,003
  2,264
  2,539
  2,826
  3,126
  3,440
  3,766
  4,106
  4,460
  4,827
  5,209
  5,607
  6,020
  6,450
  6,898
  7,364
  7,849
  8,354
  8,881
  9,431
  10,005
  10,603
  11,229
EBITDA, $m
  662
  841
  1,037
  1,249
  1,478
  1,721
  1,981
  2,255
  2,544
  2,847
  3,164
  3,496
  3,842
  4,203
  4,578
  4,969
  5,375
  5,797
  6,236
  6,692
  7,167
  7,661
  8,175
  8,711
  9,269
  9,850
  10,457
  11,090
  11,751
  12,441
Interest expense (income), $m
  2
  0
  3
  6
  10
  14
  18
  23
  28
  33
  38
  43
  49
  55
  62
  68
  75
  82
  90
  98
  106
  114
  123
  132
  141
  151
  161
  172
  183
  194
  206
Earnings before tax, $m
  563
  721
  895
  1,083
  1,286
  1,502
  1,732
  1,975
  2,232
  2,501
  2,783
  3,077
  3,384
  3,704
  4,038
  4,384
  4,745
  5,120
  5,509
  5,915
  6,336
  6,775
  7,232
  7,708
  8,203
  8,720
  9,259
  9,822
  10,409
  11,023
Tax expense, $m
  152
  195
  242
  292
  347
  406
  468
  533
  603
  675
  751
  831
  914
  1,000
  1,090
  1,184
  1,281
  1,382
  1,488
  1,597
  1,711
  1,829
  1,953
  2,081
  2,215
  2,354
  2,500
  2,652
  2,810
  2,976
Net income, $m
  411
  527
  653
  791
  939
  1,097
  1,264
  1,442
  1,629
  1,826
  2,031
  2,246
  2,471
  2,704
  2,947
  3,201
  3,464
  3,737
  4,022
  4,318
  4,626
  4,946
  5,279
  5,627
  5,989
  6,366
  6,759
  7,170
  7,599
  8,047

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,796
  2,107
  2,446
  2,813
  3,206
  3,626
  4,071
  4,542
  5,037
  5,556
  6,099
  6,666
  7,257
  7,873
  8,513
  9,179
  9,871
  10,590
  11,337
  12,114
  12,921
  13,761
  14,635
  15,544
  16,491
  17,478
  18,507
  19,580
  20,699
  21,868
Adjusted assets (=assets-cash), $m
  1,796
  2,107
  2,446
  2,813
  3,206
  3,626
  4,071
  4,542
  5,037
  5,556
  6,099
  6,666
  7,257
  7,873
  8,513
  9,179
  9,871
  10,590
  11,337
  12,114
  12,921
  13,761
  14,635
  15,544
  16,491
  17,478
  18,507
  19,580
  20,699
  21,868
Revenue / Adjusted assets
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
  2.209
Average production assets, $m
  996
  1,168
  1,356
  1,560
  1,778
  2,010
  2,257
  2,518
  2,793
  3,080
  3,382
  3,696
  4,024
  4,365
  4,720
  5,089
  5,473
  5,872
  6,286
  6,717
  7,164
  7,630
  8,114
  8,619
  9,144
  9,691
  10,261
  10,856
  11,477
  12,125
Working capital, $m
  190
  223
  259
  298
  340
  384
  432
  482
  534
  589
  647
  707
  769
  835
  903
  973
  1,047
  1,123
  1,202
  1,284
  1,370
  1,459
  1,552
  1,648
  1,749
  1,853
  1,962
  2,076
  2,195
  2,319
Total debt, $m
  57
  119
  187
  260
  338
  421
  510
  604
  702
  805
  913
  1,026
  1,144
  1,266
  1,394
  1,526
  1,664
  1,807
  1,956
  2,110
  2,271
  2,438
  2,612
  2,793
  2,982
  3,178
  3,383
  3,596
  3,819
  4,051
Total liabilities, $m
  357
  419
  487
  560
  638
  722
  810
  904
  1,002
  1,106
  1,214
  1,327
  1,444
  1,567
  1,694
  1,827
  1,964
  2,107
  2,256
  2,411
  2,571
  2,738
  2,912
  3,093
  3,282
  3,478
  3,683
  3,896
  4,119
  4,352
Total equity, $m
  1,438
  1,688
  1,959
  2,253
  2,568
  2,904
  3,261
  3,638
  4,034
  4,450
  4,885
  5,339
  5,813
  6,306
  6,819
  7,352
  7,907
  8,483
  9,081
  9,703
  10,350
  11,023
  11,723
  12,451
  13,210
  14,000
  14,824
  15,683
  16,580
  17,516
Total liabilities and equity, $m
  1,795
  2,107
  2,446
  2,813
  3,206
  3,626
  4,071
  4,542
  5,036
  5,556
  6,099
  6,666
  7,257
  7,873
  8,513
  9,179
  9,871
  10,590
  11,337
  12,114
  12,921
  13,761
  14,635
  15,544
  16,492
  17,478
  18,507
  19,579
  20,699
  21,868
Debt-to-equity ratio
  0.040
  0.070
  0.100
  0.120
  0.130
  0.150
  0.160
  0.170
  0.170
  0.180
  0.190
  0.190
  0.200
  0.200
  0.200
  0.210
  0.210
  0.210
  0.220
  0.220
  0.220
  0.220
  0.220
  0.220
  0.230
  0.230
  0.230
  0.230
  0.230
  0.230
Adjusted equity ratio
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801
  0.801

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  411
  527
  653
  791
  939
  1,097
  1,264
  1,442
  1,629
  1,826
  2,031
  2,246
  2,471
  2,704
  2,947
  3,201
  3,464
  3,737
  4,022
  4,318
  4,626
  4,946
  5,279
  5,627
  5,989
  6,366
  6,759
  7,170
  7,599
  8,047
Depreciation, amort., depletion, $m
  100
  117
  136
  156
  178
  201
  226
  252
  279
  308
  338
  370
  402
  437
  472
  509
  547
  587
  629
  672
  716
  763
  811
  862
  914
  969
  1,026
  1,086
  1,148
  1,212
Funds from operations, $m
  510
  643
  789
  947
  1,116
  1,298
  1,490
  1,694
  1,908
  2,134
  2,369
  2,616
  2,873
  3,141
  3,420
  3,709
  4,011
  4,325
  4,650
  4,989
  5,342
  5,709
  6,091
  6,488
  6,903
  7,335
  7,785
  8,256
  8,746
  9,259
Change in working capital, $m
  30
  33
  36
  39
  42
  45
  47
  50
  52
  55
  58
  60
  63
  65
  68
  71
  73
  76
  79
  82
  86
  89
  93
  96
  100
  105
  109
  114
  119
  124
Cash from operations, $m
  480
  610
  753
  908
  1,075
  1,253
  1,443
  1,644
  1,856
  2,079
  2,312
  2,556
  2,810
  3,075
  3,352
  3,639
  3,938
  4,248
  4,571
  4,907
  5,256
  5,620
  5,998
  6,392
  6,802
  7,230
  7,676
  8,142
  8,628
  9,135
Maintenance CAPEX, $m
  -84
  -100
  -117
  -136
  -156
  -178
  -201
  -226
  -252
  -279
  -308
  -338
  -370
  -402
  -437
  -472
  -509
  -547
  -587
  -629
  -672
  -716
  -763
  -811
  -862
  -914
  -969
  -1,026
  -1,086
  -1,148
New CAPEX, $m
  -155
  -173
  -188
  -203
  -218
  -233
  -247
  -261
  -274
  -288
  -301
  -314
  -328
  -341
  -355
  -369
  -384
  -399
  -414
  -431
  -448
  -466
  -484
  -504
  -525
  -547
  -570
  -595
  -621
  -648
Cash from investing activities, $m
  -239
  -273
  -305
  -339
  -374
  -411
  -448
  -487
  -526
  -567
  -609
  -652
  -698
  -743
  -792
  -841
  -893
  -946
  -1,001
  -1,060
  -1,120
  -1,182
  -1,247
  -1,315
  -1,387
  -1,461
  -1,539
  -1,621
  -1,707
  -1,796
Free cash flow, $m
  241
  338
  448
  569
  701
  843
  995
  1,157
  1,330
  1,511
  1,703
  1,903
  2,113
  2,332
  2,560
  2,798
  3,045
  3,302
  3,570
  3,848
  4,137
  4,438
  4,751
  5,076
  5,415
  5,769
  6,137
  6,521
  6,921
  7,340
Issuance/(repayment) of debt, $m
  57
  62
  67
  73
  78
  84
  89
  94
  98
  103
  108
  113
  118
  123
  127
  132
  138
  143
  149
  155
  161
  167
  174
  181
  188
  196
  205
  213
  223
  233
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  57
  62
  67
  73
  78
  84
  89
  94
  98
  103
  108
  113
  118
  123
  127
  132
  138
  143
  149
  155
  161
  167
  174
  181
  188
  196
  205
  213
  223
  233
Total cash flow (excl. dividends), $m
  298
  400
  516
  642
  779
  926
  1,084
  1,251
  1,428
  1,615
  1,811
  2,016
  2,231
  2,454
  2,687
  2,930
  3,183
  3,445
  3,718
  4,002
  4,298
  4,605
  4,925
  5,257
  5,604
  5,965
  6,342
  6,734
  7,144
  7,572
Retained Cash Flow (-), $m
  -226
  -249
  -272
  -294
  -315
  -336
  -357
  -377
  -396
  -416
  -435
  -454
  -474
  -493
  -513
  -533
  -554
  -576
  -599
  -622
  -647
  -673
  -700
  -728
  -759
  -790
  -824
  -859
  -897
  -936
Prev. year cash balance distribution, $m
  221
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  17
  20
  23
  27
  31
  35
  40
  45
  50
  56
  61
  67
  74
  80
  87
  94
  101
  109
  117
  125
  134
  143
  152
  162
  172
  182
  193
  204
  216
  229
Cash available for distribution, $m
  293
  151
  244
  348
  464
  590
  727
  874
  1,032
  1,199
  1,376
  1,562
  1,757
  1,961
  2,175
  2,397
  2,628
  2,869
  3,120
  3,380
  3,651
  3,932
  4,225
  4,529
  4,845
  5,175
  5,518
  5,875
  6,248
  6,636
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  281
  138
  212
  287
  359
  428
  491
  546
  593
  629
  653
  666
  668
  658
  638
  609
  572
  528
  480
  430
  378
  326
  277
  231
  188
  151
  118
  91
  68
  50
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Sanderson Farms, Inc. is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets. The Company, through its subsidiaries, Sanderson Farms, Inc. (Production Division) and Sanderson Farms, Inc. (Processing Division), conducts its chicken operations. Sanderson Farms, Inc. (Production Division) is engaged in the production of chickens to the broiler-stage. Sanderson Farms, Inc. (Foods Division) is engaged in the processing, sale and distribution of chickens. The Company, through Sanderson Farms, Inc. (Foods Division), conducts its prepared chicken business.

FINANCIAL RATIOS  of  Sanderson Farms (SAFM)

Valuation Ratios
P/E Ratio 8.2
Price to Sales 0.7
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 5.6
Price to Free Cash Flow 9.5
Growth Rates
Sales Growth Rate 18.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -16.9%
Cap. Spend. - 3 Yr. Gr. Rate -0.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 214
Management Effectiveness
Return On Assets 17.8%
Ret/ On Assets - 3 Yr. Avg. 16.9%
Return On Total Capital 21.3%
Ret/ On T. Cap. - 3 Yr. Avg. 20.1%
Return On Equity 21.3%
Return On Equity - 3 Yr. Avg. 20.3%
Asset Turnover 2.1
Profitability Ratios
Gross Margin 19.2%
Gross Margin - 3 Yr. Avg. 17.6%
EBITDA Margin 15.8%
EBITDA Margin - 3 Yr. Avg. 14.7%
Operating Margin 12.7%
Oper. Margin - 3 Yr. Avg. 11.7%
Pre-Tax Margin 12.7%
Pre-Tax Margin - 3 Yr. Avg. 11.7%
Net Profit Margin 8.4%
Net Profit Margin - 3 Yr. Avg. 7.6%
Effective Tax Rate 34.1%
Eff/ Tax Rate - 3 Yr. Avg. 35%
Payout Ratio 16.4%

SAFM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SAFM stock intrinsic value calculation we used $3342 million for the last fiscal year's total revenue generated by Sanderson Farms. The default revenue input number comes from 2017 income statement of Sanderson Farms. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SAFM stock valuation model: a) initial revenue growth rate of 18.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SAFM is calculated based on our internal credit rating of Sanderson Farms, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Sanderson Farms.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SAFM stock the variable cost ratio is equal to 75.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $416 million in the base year in the intrinsic value calculation for SAFM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Sanderson Farms.

Corporate tax rate of 27% is the nominal tax rate for Sanderson Farms. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SAFM stock is equal to 0.5%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SAFM are equal to 25.1%.

Life of production assets of 10 years is the average useful life of capital assets used in Sanderson Farms operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SAFM is equal to 4.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1433 million for Sanderson Farms - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 23 million for Sanderson Farms is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Sanderson Farms at the current share price and the inputted number of shares is $2.3 billion.

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COMPANY NEWS

▶ Sanderson Farms, Inc. Announces Quarterly Dividend   [Jul-19-18 01:05PM  Business Wire]
▶ Sanderson Farms to Host Investor Conference   [Jun-26-18 11:35AM  Business Wire]
▶ Sanderson Farms: Fiscal 2Q Earnings Snapshot   [May-24-18 08:05AM  Associated Press]
▶ Sanderson Farms Earnings Preview   [May-23-18 04:10PM  Benzinga]
▶ Cheap Dividend Paying Companies To Buy   [04:05PM  Simply Wall St.]
▶ Sanderson Farms, Inc. Announces Quarterly Dividend   [Apr-19-18 12:50PM  Business Wire]
▶ Top 3 Cheap Stocks For The Month   [Apr-17-18 10:02AM  Simply Wall St.]
▶ [$$] US meat producers rise with soyabeans under pressure   [Apr-03-18 11:11PM  Financial Times]
▶ New Strong Sell Stocks for February 28th   [Feb-28-18 03:57AM  Zacks]
▶ Sanderson Farms, Inc. to Host Earnings Call   [Feb-22-18 10:05AM  ACCESSWIRE]
▶ Sanderson Farms misses 1Q profit forecasts   [05:03AM  Associated Press]
▶ Sanderson Farms, Inc. Announces Quarterly Dividend   [Jan-18-18 05:05PM  Business Wire]
▶ [$$] Growing Appetites Fuel Record U.S. Meat Production   [Jan-12-18 11:30PM  The Wall Street Journal]
▶ New Strong Sell Stocks for January 9th   [Jan-09-18 08:26AM  Zacks]
▶ Estimating The Fair Value Of Sanderson Farms Inc (NASDAQ:SAFM)   [Dec-23-17 06:35PM  Simply Wall St.]
▶ Company News For Dec 15, 2017   [10:13AM  Zacks]
▶ Sanderson Farms misses 4Q profit forecasts   [07:51AM  Associated Press]
▶ Earnings Season Watch List: Sanderson Farms   [Dec-13-17 03:00AM  Investor's Business Daily]
▶ Earnings Season Watch List: Sanderson Farms   [Dec-06-17 03:00AM  Investor's Business Daily]
▶ Earnings Season Watch List: Sanderson Farms   [03:00AM  Investor's Business Daily]
▶ Don't Be a Ham: Meat Stocks Are Looking Full   [Nov-03-17 11:41AM  Barrons.com]
▶ Why Analysts Prefer Tyson Over Sanderson Farms   [Oct-31-17 09:43AM  Benzinga]
▶ The Downside Of Dividend Paying Stocks   [Oct-30-17 02:11PM  Forbes]
▶ What Is Sanderson Farms Incs (SAFM) Share Price Doing?   [Oct-25-17 04:28PM  Simply Wall St.]
▶ 4 of the Most Efficient Stocks to Buy Now   [Oct-20-17 10:29AM  Zacks]
▶ Chicken Rules The Roost, But Americans Want Their Meat Drug-Free And Easy   [Oct-13-17 07:58AM  Investor's Business Daily]
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