Royce & Associates LP reduced its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 43.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,867 shares of the company’s stock after selling 153,101 shares during the period. Royce & Associates LP’s holdings in Sanderson Farms were worth $27,599,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its position in shares of Sanderson Farms by 129.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 27,418 shares of the company’s stock worth $3,805,000 after purchasing an additional 15,469 shares during the last quarter. BlackRock Inc. lifted its position in shares of Sanderson Farms by 4.9% during the 4th quarter. BlackRock Inc. now owns 2,193,866 shares of the company’s stock worth $304,466,000 after purchasing an additional 102,488 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Sanderson Farms by 2.4% during the 4th quarter. Rhumbline Advisers now owns 43,949 shares of the company’s stock worth $6,099,000 after purchasing an additional 1,018 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Sanderson Farms by 26.4% during the 4th quarter. Arizona State Retirement System now owns 14,405 shares of the company’s stock worth $1,999,000 after purchasing an additional 3,005 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Sanderson Farms by 5.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 48,735 shares of the company’s stock worth $6,763,000 after purchasing an additional 2,616 shares during the last quarter.
In other news, Director Jones Gail Pittman sold 260 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.30% of the company’s stock.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, December 14th. The company reported $3.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.50 by ($0.30). Sanderson Farms had a return on equity of 20.97% and a net margin of 8.34%. The firm had revenue of $919.90 million for the quarter, compared to analyst estimates of $916.07 million. During the same quarter last year, the firm earned $3.36 earnings per share. The company’s revenue was up 16.3% compared to the same quarter last year. research analysts forecast that Sanderson Farms, Inc. will post 9.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th were paid a dividend of $0.32 per share. The ex-dividend date was Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.96%. Sanderson Farms’s dividend payout ratio (DPR) is 10.45%.
Several research firms have recently issued reports on SAFM. BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 price objective on shares of Sanderson Farms in a research report on Friday. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays reissued an “equal weight” rating and issued a $150.00 price target (up from $136.00) on shares of Sanderson Farms in a research report on Thursday, December 14th. KeyCorp assumed coverage on shares of Sanderson Farms in a research report on Tuesday, October 31st. They issued a “sector weight” rating for the company. Finally, Morgan Stanley assumed coverage on shares of Sanderson Farms in a research report on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $136.80.
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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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