BARING ASSET MANAGEMENT Ltd decreased its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,357 shares of the company’s stock after selling 534 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Sanderson Farms were worth $850,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock worth $229,000 after buying an additional 60 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Sanderson Farms during the first quarter worth about $633,000. Vanguard Group Inc. increased its stake in shares of Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the last quarter. TD Asset Management Inc. increased its stake in shares of Sanderson Farms by 9.3% in the first quarter. TD Asset Management Inc. now owns 33,000 shares of the company’s stock worth $3,427,000 after buying an additional 2,800 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Sanderson Farms by 2.0% in the first quarter. Arizona State Retirement System now owns 10,384 shares of the company’s stock worth $1,078,000 after buying an additional 200 shares during the last quarter.
Sanderson Farms, Inc. (NASDAQ SAFM) opened at 140.23 on Friday. The stock has a market cap of $3.19 billion, a PE ratio of 14.39 and a beta of 0.62. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $145.02. The company’s 50 day moving average is $126.11 and its 200-day moving average is $111.94.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The business had revenue of $802 million for the quarter, compared to analyst estimates of $769.47 million. During the same quarter last year, the business earned $2.11 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Sanderson Farms, Inc. will post $10.96 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a $0.24 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. Sanderson Farms’s dividend payout ratio (DPR) is 9.86%.
A number of equities research analysts have recently issued reports on SAFM shares. Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 5th. BMO Capital Markets restated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Jefferies Group LLC lowered their target price on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 30th. Finally, BidaskClub cut shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $119.44.
In other news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the sale, the director now owns 9,673 shares in the company, valued at $1,175,269.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the sale, the director now owns 13,072 shares in the company, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. 5.66% of the stock is owned by company insiders.
About Sanderson Farms
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.
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