Shelton Capital Management Purchases New Stake in Sanderson Farms, Inc. (SAFM)

Shelton Capital Management purchased a new position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,988 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Amalgamated Bank grew its position in Sanderson Farms by 1.4% during the 2nd quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock worth $318,000 after acquiring an additional 39 shares during the last quarter. Advisor Group Inc. grew its position in Sanderson Farms by 6.9% during the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after acquiring an additional 62 shares during the last quarter. Biltmore Wealth Management LLC grew its position in Sanderson Farms by 1.4% during the 2nd 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 grew its position in Sanderson Farms by 1.0% during the 2nd 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, Ronald Blue & Co. LLC grew its position in Sanderson Farms by 5.3% during the 2nd quarter. Ronald Blue & Co. LLC now owns 2,378 shares of the company’s stock worth $275,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

In other news, Director Robert C. Khayat sold 1,775 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total transaction of $252,600.25. Following the transaction, the director now owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total value of $432,330.00. Following the transaction, the director now directly owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,400 shares of company stock worth $771,199. Insiders own 5.66% of the company’s stock.

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Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 147.94 on Thursday. The stock has a market cap of $3.36 billion, a PE ratio of 11.88 and a beta of 0.58. The firm has a 50-day moving average price of $154.84 and a 200 day moving average price of $129.85. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $166.65.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. The firm had revenue of $931.90 million for 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%. The company’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Equities research analysts expect that Sanderson Farms, Inc. will post $12.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were paid a dividend of $0.32 per share. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. Sanderson Farms’s dividend payout ratio is currently 10.31%.

Several equities analysts recently issued reports on SAFM shares. BMO Capital Markets restated a “hold” rating and set a $130.00 price target on shares of Sanderson Farms in a research report on Tuesday, June 27th. BidaskClub lowered Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Wednesday, July 5th. Stephens lowered Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target on the stock. in a research report on Thursday, August 17th. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $129.00 price target (up from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $131.27.

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.

Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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