Fisher Asset Management LLC acquired a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,539 shares of the company’s stock, valued at approximately $641,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in Sanderson Farms during the first quarter worth about $179,000. Affinity Investment Advisors LLC acquired a new stake in Sanderson Farms during the first quarter worth about $209,000. Everence Capital Management Inc. acquired a new stake in Sanderson Farms during the first quarter worth about $210,000. Parkwood LLC acquired a new stake in Sanderson Farms during the first quarter worth about $226,000. Finally, State of Alaska Department of Revenue increased 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 worth $229,000 after buying an additional 60 shares in the last quarter.
Sanderson Farms, Inc. (SAFM) opened at 139.90 on Friday. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $141.00. The company’s 50 day moving average is $123.49 and its 200-day moving average is $110.46. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 14.36 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, May 25th. The company reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 previous year, the business earned $2.11 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts anticipate that Sanderson Farms, Inc. will post $10.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s payout ratio is currently 9.86%.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price target for the company in a research report on Wednesday, July 5th. BMO Capital Markets restated a “hold” rating and issued a $130.00 price target (up from $105.00) on shares of Sanderson Farms in a research report on Friday, May 26th. Barclays PLC began coverage on shares of Sanderson Farms in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $125.00 price target for the company. BidaskClub cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC decreased their price objective on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $119.44.
In other news, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $121.50, for a total value of $60,750.00. Following the transaction, the director now owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were 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 disclosure for this sale can be found here. 5.66% of the stock is 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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