New Amsterdam Partners LLC NY increased its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 18.0% during the second quarter, Holdings Channel reports. The firm owned 67,841 shares of the company’s stock after buying an additional 10,343 shares during the period. Sanderson Farms comprises approximately 1.7% of New Amsterdam Partners LLC NY’s holdings, making the stock its 15th largest position. New Amsterdam Partners LLC NY’s holdings in Sanderson Farms were worth $7,846,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in SAFM. State of Alaska Department of Revenue raised its stake in Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock valued at $229,000 after buying an additional 60 shares during the period. Laurion Capital Management LP acquired a new stake in Sanderson Farms during the first quarter valued at $633,000. TD Asset Management Inc. raised its stake in Sanderson Farms by 9.3% in the first quarter. TD Asset Management Inc. now owns 33,000 shares of the company’s stock valued at $3,427,000 after buying an additional 2,800 shares during the period. Vanguard Group Inc. raised its stake in Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock valued at $187,418,000 after buying an additional 122,658 shares during the period. Finally, Arizona State Retirement System raised its stake in Sanderson Farms by 2.0% in the first quarter. Arizona State Retirement System now owns 10,384 shares of the company’s stock valued at $1,078,000 after buying an additional 200 shares during the period.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 139.90 on Friday. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 14.36 and a beta of 0.62. Sanderson Farms, Inc. has a 52 week low of $74.07 and a 52 week high of $141.00. The stock’s 50 day moving average price is $123.49 and its 200-day moving average price is $110.46.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.22. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The firm had revenue of $802 million during the quarter, compared to analysts’ expectations of $769.47 million. During the same period in the prior year, the business earned $2.11 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Sanderson Farms, Inc. will post $10.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, July 28th. Sanderson Farms’s payout ratio is currently 9.86%.
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Several analysts recently weighed in on SAFM shares. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective on the stock in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Sanderson Farms in a research note on Tuesday, June 27th. Pacific Crest reaffirmed an “overweight” rating and issued a $125.00 price objective (up from $120.00) on shares of Sanderson Farms in a research note on Sunday, April 23rd. BidaskClub lowered Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, ValuEngine raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $119.44.
In other news, Director Dianne Mooney sold 1,103 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the transaction, the director now directly owns 13,072 shares in the company, valued at approximately $1,538,443.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the transaction, the director now owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The disclosure for this sale can be found here. 5.66% of the stock is currently owned by corporate insiders.
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 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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