Fisher Asset Management LLC purchased a new position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 SAFM. BlackRock Inc. raised its position in shares of Sanderson Farms by 38,073.7% in the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock worth $280,451,000 after buying an additional 2,693,713 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sanderson Farms by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock worth $142,725,000 after buying an additional 411,406 shares during the period. Norges Bank bought a new position in shares of Sanderson Farms during the fourth quarter worth approximately $21,881,000. LSV Asset Management raised 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 period. Finally, Vanguard Group Inc. raised its position in shares of Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the period.
Sanderson Farms, Inc. (NASDAQ SAFM) traded up 0.21% during midday trading on Friday, reaching $140.53. 392,461 shares of the company’s stock were exchanged. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $145.02. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 14.43 and a beta of 0.62. The firm has a 50-day moving average price of $126.79 and a 200 day moving average price of $112.30.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data 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 net margin of 7.34% and a return on equity of 18.30%. The business had revenue of $802 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. On average, analysts expect that Sanderson Farms, Inc. will post $10.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 0.68%. Sanderson Farms’s dividend payout ratio (DPR) is presently 9.86%.
A number of research analysts have issued reports on SAFM shares. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price on the stock in a research report on Wednesday, July 5th. BMO Capital Markets restated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research report on Tuesday, June 27th. Pacific Crest reiterated an “overweight” rating and set a $125.00 price target (up previously from $120.00) on shares of Sanderson Farms in a research report on Sunday, April 23rd. BidaskClub lowered shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, ValuEngine raised shares of 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, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $122.00.
In other news, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the sale, the director now directly owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $129,812.07. Following the completion of the sale, the director now directly owns 13,072 shares in the company, valued at $1,538,443.68. The disclosure for this sale can be found here. 5.66% of the stock is currently owned by corporate insiders.
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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