ClariVest Asset Management LLC increased its position in Sanderson Farms Inc. (NASDAQ:SAFM) by 22.3% during the second quarter, Holdings Channel reports. The firm owned 13,703 shares of the company’s stock after buying an additional 2,500 shares during the period. ClariVest Asset Management LLC’s holdings in Sanderson Farms were worth $1,187,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Sanderson Farms during the second quarter worth about $12,313,000. Meeder Asset Management Inc. boosted its position in Sanderson Farms by 5.1% in the second quarter. Meeder Asset Management Inc. now owns 1,942 shares of the company’s stock worth $169,000 after buying an additional 95 shares during the period. CIBC World Markets Inc. bought a new position in Sanderson Farms during the second quarter worth about $436,000. Lingohr & Partner Asset Management GmbH boosted its position in Sanderson Farms by 3.6% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 14,298 shares of the company’s stock worth $1,239,000 after buying an additional 500 shares during the period. Finally, Nordea Investment Management AB boosted its position in Sanderson Farms by 62.5% in the second quarter. Nordea Investment Management AB now owns 21,080 shares of the company’s stock worth $1,826,000 after buying an additional 8,105 shares during the period. 93.30% of the stock is currently owned by institutional investors.
Sanderson Farms Inc. (NASDAQ:SAFM) traded down 2.08% during midday trading on Friday, reaching $93.09. 427,771 shares of the company’s stock traded hands. Sanderson Farms Inc. has a 52-week low of $64.65 and a 52-week high of $99.40. The firm’s 50-day moving average is $94.92 and its 200 day moving average is $90.15. The firm has a market cap of $2.10 billion, a PE ratio of 14.93 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, August 25th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.31. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The company had revenue of $728 million for the quarter, compared to analysts’ expectations of $749.76 million. During the same quarter in the previous year, the company earned $2.27 earnings per share. Sanderson Farms’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Sanderson Farms Inc. will post $7.38 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Tuesday, October 18th. Investors of record on Tuesday, October 4th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, September 30th. This represents a dividend yield of 1.01%. This is a boost from Sanderson Farms’s previous special dividend of $0.50. Sanderson Farms’s payout ratio is currently 15.43%.
A number of equities analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Sanderson Farms in a research report on Wednesday, October 5th. They set a “neutral” rating and a $103.00 price objective on the stock. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price objective on the stock in a research report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $84.38.
In related news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $97.00, for a total transaction of $72,750.00. Following the transaction, the director now owns 14,296 shares in the company, valued at $1,386,712. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.45% of the company’s stock.
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 the preparation, processing, marketing and distribution of processed and prepared chicken items. The Company sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms brand name to retailers, distributors and casual dining operators principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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