Two Sigma Investments LP increased its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 542.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,500 shares of the company’s stock after buying an additional 14,100 shares during the period. Two Sigma Investments LP owned about 0.05% of Sanderson Farms worth $1,084,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SAFM. Elkfork Partners LLC bought a new position in shares of Sanderson Farms during the fourth quarter worth approximately $116,000. Kempen Capital Management N.V. increased its position in shares of Sanderson Farms by 70.3% in the third quarter. Kempen Capital Management N.V. now owns 1,638 shares of the company’s stock worth $158,000 after buying an additional 676 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Sanderson Farms by 28.6% in the third quarter. Acrospire Investment Management LLC now owns 1,800 shares of the company’s stock worth $173,000 after buying an additional 400 shares during the last quarter. Ronald Blue & Co. LLC bought a new position in shares of Sanderson Farms during the third quarter worth approximately $211,000. Finally, HL Financial Services LLC bought a new position in shares of Sanderson Farms during the third quarter worth approximately $233,000. 98.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) traded up 1.90% during mid-day trading on Friday, hitting $113.45. 635,556 shares of the stock were exchanged. The company has a market capitalization of $2.58 billion, a PE ratio of 12.74 and a beta of 0.34. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $115.90. The firm has a 50-day moving average price of $100.35 and a 200 day moving average price of $92.81.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by $0.40. Sanderson Farms had a net margin of 6.71% and a return on equity of 16.94%. The business earned $688.35 million during the quarter, compared to analyst estimates of $695.66 million. During the same period last year, the firm posted $0.47 earnings per share. Sanderson Farms’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Sanderson Farms, Inc. will post $8.65 earnings per share for the current year.
A number of research analysts recently commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $105.00 price objective on shares of Sanderson Farms in a research report on Wednesday, April 12th. Sidoti downgraded 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. Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. Jefferies Group LLC reissued an “underperform” rating and issued a $60.00 target price on shares of Sanderson Farms in a research report on Monday, February 27th. Finally, KeyCorp raised 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $98.86.
In other news, Director Phil K. Livingston sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $92.58, for a total transaction of $157,386.00. Following the transaction, the director now directly owns 11,873 shares of the company’s stock, valued at $1,099,202.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Khayat sold 1,210 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $93.81, for a total value of $113,510.10. Following the transaction, the director now directly owns 13,794 shares in the company, valued at $1,294,015.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,529 shares of company stock worth $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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