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Sanderson Farms, Inc. stock price
Sanderson Farms, Inc. latest news:
U.S. food distributors allege Tyson Foods, rivals fixed chicken prices
Top U.S. food distributors Sysco Corp and U.S. Foods Inc have sued the country's biggest chicken processors for allegedly conspiring to inflate prices. The distributors sued companies including Tyson Foods Inc, Pilgrim's Pride Corp, Sanderson Farms and Perdue Farms in separate complaints filed in federal court on Tuesday.
Chicken wing company CEO: NFL player protests have hurt sales
Sanderson Farms CEO Joe F. Sanderson Jr. blamed the decline in part on less demand from its restaurant chain partners, noting that “the NFL has hurt the wing stores, and that is the traffic going through some of the wing places that we service.”
Sanderson Farms shares slump premarket after profit miss
Sanderson Farms Inc. shares moved lower premarket Thursday, after the company posted weaker-than-expected profit for its fiscal fourth quarter, hurt by weak poultry prices, hurricane disruptions and higher-than-expected chicken production. The company said it had net income of $72.9 million, or $3.20 a share, in the quarter, down from $76.0 million, or $3.36 a share, in the year-earlier period. Sales rose to $919.9 million from $790.8 million. The FactSet consensus was for EPS of $3.49 and sales of $911 million. "Market conditions weakened during our fourth fiscal quarter of 2017, as market prices declined seasonally after Labor Day. The seasonal decrease in demand was exacerbated by hurricane disruptions and higher than expected chicken production caused by higher than expected live weights. Despite this weakness, we performed well during the quarter," Chief Executive Joe Sanderson said in a statement. Shares have gained 78% in 2017, outperforming the S&P 500 , which has gained 19%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Investors call on Sanderson, Denny's, McDonald's to cut antibiotics
An investor coalition that presses for corporate responsibility is calling on U.S. food companies McDonald's Corp (MCD), Denny's Corp (DENN) and Sanderson Farms Inc (SAFM) to stop buying or producing meat raised with medically important antibiotics. Members of the Interfaith Center on Corporate Responsibility have filed shareholder resolutions at each of the companies, ICCR said in a statement on Thursday.
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