Rational Advisors LLC acquired a new stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $323,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. boosted its holdings in Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after buying an additional 662 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Sanderson Farms during the second quarter worth approximately $125,000. World Asset Management Inc bought a new stake in Sanderson Farms during the third quarter worth approximately $207,000. Finally, Foster & Motley Inc. bought a new stake in Sanderson Farms during the third quarter worth approximately $213,000. Institutional investors and hedge funds own 99.95% of the company’s stock.
Sanderson Farms, Inc. (SAFM) traded up $1.88 during trading on Tuesday, reaching $164.23. 383,900 shares of the company were exchanged, compared to its average volume of 443,838. Sanderson Farms, Inc. has a 1 year low of $74.07 and a 1 year high of $167.32. The firm has a market cap of $3,690.00, a price-to-earnings ratio of 13.08 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. The company had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. research analysts expect that Sanderson Farms, Inc. will post 12.76 earnings per share for the current year.
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A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Mizuho cut shares of Sanderson Farms from a “buy” rating to a “neutral” rating and raised their target price for the stock from $151.00 to $160.00 in a report on Monday, October 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $129.00 price objective (up previously from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. Finally, Morgan Stanley started coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $132.00.
In other Sanderson Farms news, Director John Bierbusse sold 625 shares of Sanderson Farms stock in a transaction on Friday, August 25th. The shares were 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 owns 14,776 shares of the company’s stock, 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 link. Also, Director Robert C. Khayat sold 1,775 shares of Sanderson Farms stock in a transaction on Tuesday, August 29th. The shares were 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 approximately $1,713,839.33. 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 in the last three months. Company insiders own 5.66% of the company’s stock.
Sanderson Farms 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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