Engineers Gate Manager LP decreased its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 62.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,295 shares of the company’s stock after selling 25,835 shares during the quarter. Engineers Gate Manager LP owned approximately 0.07% of Sanderson Farms worth $1,769,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in Sanderson Farms during the 2nd quarter worth about $125,000. Strs Ohio increased its holdings in Sanderson Farms by 180.0% during the 2nd quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after purchasing an additional 900 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Sanderson Farms during the 1st quarter worth about $179,000. Paragon Capital Management Ltd purchased a new stake in Sanderson Farms during the 2nd quarter worth about $209,000. Finally, Meeder Asset Management Inc. purchased a new stake in Sanderson Farms during the 2nd quarter worth about $250,000. Institutional investors own 99.99% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target on the stock. in a report on Thursday, August 17th. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday, August 11th. J P Morgan Chase & Co restated a “neutral” rating and set a $129.00 price target (up previously from $112.00) on shares of Sanderson Farms in a report on Thursday, August 24th. Finally, BMO Capital Markets restated a “market perform” rating and set a $150.00 price target (up previously from $130.00) on shares of Sanderson Farms in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $125.45.
In other news, Director Robert C. Khayat sold 1,775 shares of Sanderson Farms stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now directly owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John Bierbusse sold 625 shares of Sanderson Farms stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $138.03, for a total value of $86,268.75. Following the sale, the director now directly owns 14,776 shares in the company, valued at $2,039,531.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,400 shares of company stock worth $771,199. Corporate insiders own 5.66% of the company’s stock.
Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 149.75 on Tuesday. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $152.63. The firm has a market capitalization of $3.41 billion, a PE ratio of 12.02 and a beta of 0.56. The stock’s 50 day moving average price is $138.83 and its 200 day moving average price is $118.11.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.47 by $1.62. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The business had revenue of $931.90 million for the quarter, compared to analyst estimates of $921.40 million. During the same period in the previous year, the company earned $2.42 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts expect that Sanderson Farms, Inc. will post $12.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, July 28th. Sanderson Farms’s payout ratio is 7.74%.
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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