166.00 +6.13 (3.83%)
Pre-Market: 8:53AM EST
|Bid||0.00 x 1000|
|Ask||166.00 x 900|
|Day's Range||157.96 - 162.31|
|52 Week Range||93.98 - 162.44|
|Beta (3Y Monthly)||0.73|
|PE Ratio (TTM)||107.95|
|Earnings Date||Dec 18, 2019 - Dec 23, 2019|
|Forward Dividend & Yield||1.28 (0.81%)|
|1y Target Est||158.56|
Meat companies are among the most vulnerable to water risks, from flooding to drought to contamination, and yet they got the lowest scores in a new report from sustainability organization Ceres on water management.
Sanderson Farms, Inc. today announced that management will participate in the Stephens 2019 Fall Investment Conference to be held November 13-15, 2019, at The Omni Hotel in Nashville, Tennessee.
(Bloomberg) -- Shares of America chicken processors surged Monday after China said it’s prepared to lift a ban on U.S. poultry that’s been in place since 2015.Tyson Foods Inc., Pilgrim’s Pride Corp. and Sanderson Farms Inc. are all poised to benefit as China may seek to import more protein in the wake of a deadly pig disease that’s wiped out a significant percentage of its hog herd. Chicken is the cheapest substitute for pork, which is the country’s preferred protein.“This could be a significant positive for the U.S. chicken industry given China’s historical prominence as a chicken import partner, and because of the country’s current need for additional protein imports in the wake of African swine fever-driven supply challenges,” analysts at Stephens Inc., including Ben Bienvenu, said in a note Monday.Sanderson Farms shares gained as much as 16%, the biggest intraday jump in more than a decade, while Pilgrim’s Pride and Tyson rose as much as 8.3% and 5.1%, respectively.African swine fever is spreading through Asia and may cut Chinese production by 60% by the end of this year, according to researcher Global AgriTrends. China produces and consumes about half of the world’s pork, and the damage from the fever is widely expected to create a protein gap that suppliers won’t be able to fill. Pork costs have skyrocketed in the country.China is already importing more chicken from Brazil, the U.S.’s main competitor in poultry exports, including parts and whole chickens, Sanderson Farms Chief Executive Officer Joe Sanderson said Oct. 18 during an investor presentation.In the event of access to China, the quantity of U.S. exports may not necessarily see significant increases, according to Global AgriTrends President Brett Stuart. China may just displace exports to smaller markets, which would push up prices, especially for chicken leg quarters.“To see that leg quarter price get another bump, that would go right to the bottom line of U.S. producers,” Stuart said, which would be “great news” for the industry.Sanderson has “the most quantifiable benefit,” according to the Stephens report, as it sold 74.9 million pounds (34,000 metric tons) of chicken for $62.1 million to China in fiscal year 2014, before the ban.Rising American poultry shipments can help ease a U.S. protein glut. In the first nine months of 2019, U.S. chicken slaughter climbed 1.4% from a year earlier and animal weights also increased.(Adds context in paragraph five and analyst, company comments in paragraph six.)\--With assistance from Steven Frank.To contact the reporter on this story: Lydia Mulvany in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: James Attwood at email@example.com, Millie MunshiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Sanderson Farms Inc. shot up 13% in active morning trading Monday, which puts the chicken processing company's stock on track for the best one-day performance in nearly 11 years, after Reuters reported late Friday that China will lift a ban on U.S. poultry as part of a partial trade deal. Trading volume topped 550,000 shares, already well above the full-day average of about 320,000 shares. The stocks of other companies in the chicken business also rose, with Tyson Foods Inc. up 3.2% and Pilgrim's Pride Corp. climbing 5.2%. "While any agreement still needs to be finalized, we view this as a clear positive for the U.S. poultry industry...as a lift of the import ban would provide a significant export market for U.S. producers and could provide support to U.S. chicken prices," analyst Peter Galbo and Bank of America Merrill Lynch wrote in a note to clients. He said the lifting of the ban one one of four scenarios in which poultry producers could benefit from African Swine Fever (ASF) occurring in China, which led to theculling of millions of hogs, as consumers may switch consumption to chicken from pork. Stephens Inc.'s Ben Bienvenu said that while the report of the ban being lifted is a "clear positive" for all three chicken processors, "Sanderson has the most quantifiable benefit given the company's robust disclosures detailed in its filings." The stock has soared 53.1% year to date, while the S&P 500 has gained 21.3%.
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