Duality Advisers LP bought a new position in Sanderson Farms, Inc. (NASDAQ:SAFM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 13,242 shares of the company’s stock, valued at approximately $1,535,000. Duality Advisers LP owned about 0.06% of Sanderson Farms at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of SAFM. M&T Bank Corp grew its holdings in shares of Sanderson Farms by 31.6% during the 2nd quarter. M&T Bank Corp now owns 4,080 shares of the company’s stock valued at $473,000 after purchasing an additional 980 shares during the last quarter. Raymond James & Associates grew its stake in shares of Sanderson Farms by 65.0% during the second quarter. Raymond James & Associates now owns 54,170 shares of the company’s stock valued at $6,278,000 after buying an additional 21,338 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sanderson Farms by 36.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,176 shares of the company’s stock worth $252,000 after buying an additional 581 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Sanderson Farms by 40.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,901 shares of the company’s stock valued at $336,000 after acquiring an additional 831 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Sanderson Farms in the 2nd quarter valued at about $245,000. 87.34% of the stock is owned by institutional investors and hedge funds.
In other Sanderson Farms news, Director Phil K. Livingston sold 700 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,105,058.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Bierbusse sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $132.30, for a total transaction of $198,450.00. Following the transaction, the director now directly owns 11,801 shares of the company’s stock, valued at approximately $1,561,272.30. The disclosure for this sale can be found here. 5.38% of the stock is owned by corporate insiders.
Shares of NASDAQ SAFM opened at $111.50 on Friday. Sanderson Farms, Inc. has a 1 year low of $102.13 and a 1 year high of $179.45. The stock has a market capitalization of $2.48 billion, a P/E ratio of -929.13 and a beta of 0.62. The company’s 50-day moving average is $116.62 and its 200 day moving average is $129.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.04 and a quick ratio of 1.71.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $1.08. Sanderson Farms had a negative return on equity of 2.65% and a negative net margin of 0.06%. The business had revenue of $844.70 million for the quarter, compared to analysts’ expectations of $854.43 million. During the same period in the previous year, the firm posted $1.83 EPS. The business’s revenue was down .1% on a year-over-year basis. Research analysts anticipate that Sanderson Farms, Inc. will post -3.01 earnings per share 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 paid a $0.32 dividend. 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 payout ratio is 51.00%.
Several brokerages have weighed in on SAFM. Cfra lowered their price objective on Sanderson Farms from $140.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, May 29th. Stephens increased their price target on shares of Sanderson Farms from $110.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. BidaskClub lowered shares of Sanderson Farms from a “sell” rating to a “strong sell” rating in a report on Friday, June 26th. Finally, Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating and set a $151.00 price objective for the company. in a research note on Monday, May 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and a consensus target price of $146.63.
Sanderson Farms Company Profile
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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