Sanderson’s strong results reflect favorable market factors, but long-term prospects still volatile.
We plan a high-single-digit percentage increase for our $115 per share valuation for no-moat Sanderson Farms after it saw strong third-quarter earnings. While we had been more pessimistic about the firm’s prospects than prevailing sentiment as competing retail protein prices fell, particularly given Sanderson’s undifferentiated lineup (which does not include antibiotic-free or organic items), the company indicated its 22% year-to-date poultry product net sales increase was driven partly by a 7% ...Sanderson Farms is a poultry processing company engaged in the production, processing, marketing and distribution of frozen chicken products, including processed and minimally prepared chicken. The company sells ice-packed, chill-packed, bulk-packed and frozen chicken, in whole, cut-up and boneless form to retailers, distributors, and casual dining operators, and to customers who resell frozen chicken into export markets. The company operates through: Sanderson Farms, Inc. (Production Division), which is engaged in the production of chickens to the broiler stage; and Sanderson Farms, Inc. (Processing Division), which is engaged in the processing, sale and distribution of chicken products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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