Martingale Asset Management L P lowered its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,910 shares of the company’s stock after selling 5,902 shares during the period. Martingale Asset Management L P’s holdings in Sanderson Farms were worth $6,014,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in SAFM. Lazard Asset Management LLC increased its position in Sanderson Farms by 3.7% in the third quarter. Lazard Asset Management LLC now owns 26,712 shares of the company’s stock worth $2,572,000 after buying an additional 952 shares during the last quarter. Zacks Investment Management acquired a new position in Sanderson Farms during the third quarter worth approximately $594,000. Principal Financial Group Inc. increased its position in Sanderson Farms by 2.8% in the third quarter. Principal Financial Group Inc. now owns 147,591 shares of the company’s stock worth $14,217,000 after buying an additional 3,983 shares during the last quarter. Northern Trust Corp increased its position in Sanderson Farms by 2.1% in the third quarter. Northern Trust Corp now owns 393,821 shares of the company’s stock worth $37,937,000 after buying an additional 8,083 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new position in Sanderson Farms during the third quarter worth approximately $7,428,000. 98.46% of the stock is owned by institutional investors.
Sanderson Farms, Inc. (NASDAQ:SAFM) traded down 1.17% during midday trading on Friday, reaching $115.30. 415,111 shares of the company’s stock traded hands. The company has a market cap of $2.62 billion, a P/E ratio of 12.95 and a beta of 0.34. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $117.27. The stock has a 50-day moving average of $110.84 and a 200 day moving average of $96.15.
Sanderson Farms (NASDAQ:SAFM) last issued its earnings results on Thursday, February 23rd. The company reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by $0.40. The business had revenue of $688.35 million for the quarter, compared to analyst estimates of $695.66 million. Sanderson Farms had a return on equity of 16.94% and a net margin of 6.71%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, analysts anticipate that Sanderson Farms, Inc. will post $9.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 23rd. Shareholders of record on Tuesday, May 9th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, May 5th. Sanderson Farms’s payout ratio is 11.48%.
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A number of equities research analysts recently issued reports on SAFM shares. KeyCorp upgraded shares of Sanderson Farms from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Monday, March 27th. Pacific Crest reiterated an “overweight” rating and set a $125.00 target price (up previously from $120.00) on shares of Sanderson Farms in a research report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price for the company in a research report on Tuesday, May 2nd. Sidoti cut shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research report on Friday, April 7th. They noted that the move was a valuation call. Finally, BMO Capital Markets reiterated a “hold” rating and set a $105.00 target price on shares of Sanderson Farms in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $106.00.
In other Sanderson Farms news, Director Robert C. Khayat sold 1,210 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $93.81, for a total transaction of $113,510.10. Following the completion of the transaction, the director now owns 13,794 shares of the company’s stock, valued at $1,294,015.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Phil K. Livingston sold 1,700 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $92.58, for a total value of $157,386.00. Following the transaction, the director now directly owns 11,873 shares of the company’s stock, valued at approximately $1,099,202.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,529 shares of company stock valued at $853,643. Insiders own 5.66% of the company’s stock.
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 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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