Martingale Asset Management L P trimmed its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,511 shares of the company’s stock after selling 2,399 shares during the quarter. Martingale Asset Management L P owned approximately 0.24% of Sanderson Farms worth $6,420,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. 1st Global Advisors Inc. boosted its stake in shares of Sanderson Farms by 1.4% during the first quarter. 1st Global Advisors Inc. now owns 3,007 shares of the company’s stock valued at $312,000 after purchasing an additional 42 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Sanderson Farms by 0.9% during the first quarter. Municipal Employees Retirement System of Michigan now owns 7,640 shares of the company’s stock worth $793,000 after acquiring an additional 70 shares during the last quarter. Biltmore Wealth Management LLC raised its position in shares of Sanderson Farms by 1.4% during the second quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock worth $692,000 after acquiring an additional 85 shares during the last quarter. Arizona State Retirement System raised its position in shares of Sanderson Farms by 1.0% during the second quarter. Arizona State Retirement System now owns 10,484 shares of the company’s stock worth $1,212,000 after acquiring an additional 100 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Sanderson Farms by 1.3% during the first quarter. BNP Paribas Arbitrage SA now owns 9,155 shares of the company’s stock worth $951,000 after acquiring an additional 118 shares during the last quarter. 99.99% of the stock is currently owned by hedge funds and other institutional investors.
Sanderson Farms, Inc. (SAFM) opened at 152.98 on Wednesday. The stock’s 50 day moving average price is $139.14 and its 200-day moving average price is $118.34. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $154.37. The company has a market capitalization of $3.48 billion, a P/E ratio of 12.28 and a beta of 0.56.
Sanderson Farms (NASDAQ:SAFM) last issued its earnings results on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating the consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million during the quarter, compared to analysts’ expectations of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. Sanderson Farms’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 EPS. On average, equities research analysts predict that Sanderson Farms, Inc. will post $12.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s dividend payout ratio is presently 7.74%.
In related news, Director John Bierbusse sold 625 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the completion of the sale, the director now directly owns 14,776 shares in the company, valued at approximately $2,039,531.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total value of $432,330.00. Following the sale, the director now owns 24,948 shares of the company’s stock, valued at $3,595,256.28. The disclosure for this sale can be found here. Insiders have sold a total of 5,400 shares of company stock valued at $771,199 over the last 90 days. 5.66% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BMO Capital Markets restated a “hold” rating and set a $130.00 price objective (up from $105.00) on shares of Sanderson Farms in a research report on Friday, May 26th. Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price objective for the company. in a research report on Thursday, August 17th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $129.00 price objective (up from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Sanderson Farms has an average rating of “Hold” and an average price target of $125.45.
Sanderson Farms Company Profile
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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