Sanderson Farms Inc. (NASDAQ:SAFM) announced a special dividend on Thursday, September 22nd. Shareholders of record on Tuesday, October 4th will be paid a dividend of 1.00 per share on Tuesday, October 18th. This represents a yield of 1.01%. The ex-dividend date of this dividend is Friday, September 30th. This is a positive change from Sanderson Farms’s previous special dividend of $0.50.
Shares of Sanderson Farms (NASDAQ:SAFM) opened at 94.98 on Friday. The firm has a 50-day moving average of $93.76 and a 200-day moving average of $89.57. Sanderson Farms has a one year low of $64.54 and a one year high of $99.40. The company has a market capitalization of $2.14 billion, a P/E ratio of 15.23 and a beta of 0.05.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, August 25th. The company reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.31. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The company earned $728 million during the quarter, compared to analyst estimates of $749.76 million. During the same period in the previous year, the business earned $2.27 EPS. Sanderson Farms’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that Sanderson Farms will post $7.39 EPS for the current fiscal year.
In other news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $97.00, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 14,296 shares in the company, valued at approximately $1,386,712. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.45% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Sanderson Farms by 278.5% in the second quarter. BlackRock Inc. now owns 5,852 shares of the company’s stock valued at $507,000 after buying an additional 4,306 shares in the last quarter. BlackRock Group LTD boosted its position in Sanderson Farms by 7.0% in the second quarter. BlackRock Group LTD now owns 33,109 shares of the company’s stock worth $2,868,000 after buying an additional 2,172 shares in the last quarter. US Bancorp DE boosted its position in Sanderson Farms by 3.5% in the second quarter. US Bancorp DE now owns 17,535 shares of the company’s stock worth $1,520,000 after buying an additional 600 shares in the last quarter. Burney Co. boosted its position in Sanderson Farms by 4.4% in the second quarter. Burney Co. now owns 15,246 shares of the company’s stock worth $1,321,000 after buying an additional 636 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Sanderson Farms by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 170,100 shares of the company’s stock worth $14,737,000 after buying an additional 56,400 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
Separately, Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $81.71.
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 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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