Duality Advisers LP purchased a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) in the second quarter, HoldingsChannel.com reports. The firm purchased 13,242 shares of the company’s stock, valued at approximately $1,535,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nuance Investments LLC increased its holdings in shares of Sanderson Farms by 120.8% during the first quarter. Nuance Investments LLC now owns 944,290 shares of the company’s stock valued at $116,450,000 after acquiring an additional 516,627 shares in the last quarter. Wellington Management Group LLP increased its stake in Sanderson Farms by 87.5% during the 1st quarter. Wellington Management Group LLP now owns 650,692 shares of the company’s stock valued at $80,243,000 after purchasing an additional 303,569 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sanderson Farms by 39.8% in the first quarter. Victory Capital Management Inc. now owns 799,544 shares of the company’s stock worth $98,600,000 after buying an additional 227,637 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Sanderson Farms by 671.4% during the first quarter. Van ECK Associates Corp now owns 215,458 shares of the company’s stock worth $26,570,000 after buying an additional 187,526 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Sanderson Farms by 34.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 601,301 shares of the company’s stock worth $74,153,000 after buying an additional 155,685 shares during the period. 87.34% of the stock is owned by institutional investors and hedge funds.
In related news, Director Phil K. Livingston sold 700 shares of Sanderson Farms stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $125.99, for a total value of $88,193.00. Following the sale, the director now owns 8,771 shares of the company’s stock, valued at approximately $1,105,058.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Bierbusse sold 1,500 shares of Sanderson Farms stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $132.30, for a total value of $198,450.00. Following the completion of the sale, the director now owns 11,801 shares in the company, valued at $1,561,272.30. The disclosure for this sale can be found here. 5.38% of the stock is currently owned by insiders.
Sanderson Farms stock opened at $111.50 on Friday. The business’s 50-day moving average price is $116.62 and its 200 day moving average price is $129.48. The company has a quick ratio of 1.71, a current ratio of 3.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -929.13 and a beta of 0.62. Sanderson Farms, Inc. has a 52 week low of $102.13 and a 52 week high of $179.45.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $1.08. The business had revenue of $844.70 million for the quarter, compared to analyst estimates of $854.43 million. Sanderson Farms had a negative return on equity of 2.65% and a negative net margin of 0.06%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. Equities analysts expect that Sanderson Farms, Inc. will post -3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $1.28 annualized dividend and a yield of 1.15%. Sanderson Farms’s dividend payout ratio is presently 51.00%.
A number of brokerages recently issued reports on SAFM. BidaskClub lowered Sanderson Farms from a “sell” rating to a “strong sell” rating in a research note on Friday, June 26th. Cfra reduced their price objective on Sanderson Farms from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Friday, May 29th. Stephens upped their target price on Sanderson Farms from $110.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Finally, Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating and set a $151.00 price target on the stock. in a report on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.63.
About Sanderson Farms
Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.
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