Municipal Employees Retirement System of Michigan boosted its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,240 shares of the company’s stock after buying an additional 600 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Sanderson Farms were worth $953,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SAFM. IndexIQ Advisors LLC boosted its position in shares of Sanderson Farms by 21.9% in the first quarter. IndexIQ Advisors LLC now owns 18,713 shares of the company’s stock worth $1,943,000 after buying an additional 3,360 shares during the last quarter. LSV Asset Management boosted its position in shares of Sanderson Farms by 15.0% in the first quarter. LSV Asset Management now owns 1,077,121 shares of the company’s stock worth $111,848,000 after buying an additional 140,492 shares during the last quarter. Eqis Capital Management Inc. boosted its position in shares of Sanderson Farms by 7.7% in the first quarter. Eqis Capital Management Inc. now owns 3,330 shares of the company’s stock worth $346,000 after buying an additional 237 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Sanderson Farms during the first quarter worth approximately $5,275,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Sanderson Farms by 7.1% in the first quarter. Great West Life Assurance Co. Can now owns 27,641 shares of the company’s stock worth $2,870,000 after buying an additional 1,844 shares during the last quarter.
Sanderson Farms, Inc. (NASDAQ SAFM) opened at 139.90 on Friday. 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, Inc. has a 12 month low of $74.07 and a 12 month high of $141.00. The company’s 50-day moving average price is $123.49 and its 200 day moving average price is $110.46.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The company had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. During the same period in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts forecast 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. Investors of record on Tuesday, August 1st will be given a $0.24 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 0.69%. Sanderson Farms’s dividend payout ratio (DPR) is presently 9.86%.
A number of brokerages have recently commented on SAFM. Zacks Investment Research cut Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “sell” rating and issued a $85.00 price target on shares of Sanderson Farms in a research note on Friday, June 9th. Mizuho began coverage on Sanderson Farms in a research note on Wednesday, June 7th. They issued a “buy” rating and a $142.00 price target for the company. Finally, ValuEngine upgraded 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 issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms presently has a consensus rating of “Buy” and an average price target of $119.44.
In related news, 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 $1,538,443.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction 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 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.
Want to see what other hedge funds are holding SAFM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sanderson Farms, Inc. (NASDAQ:SAFM).
What are top analysts saying about Sanderson Farms Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sanderson Farms Inc. and related companies.