Great Lakes Advisors LLC Has $455,000 Stake in Sanderson Farms, Inc. (SAFM)

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Great Lakes Advisors LLC grew its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 62.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,451 shares of the company’s stock after acquiring an additional 1,329 shares during the period. Great Lakes Advisors LLC’s holdings in Sanderson Farms were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAFM. Quadrant Capital Group LLC bought a new position in shares of Sanderson Farms during the first quarter valued at $26,000. Strs Ohio bought a new position in shares of Sanderson Farms during the fourth quarter valued at $29,000. Quantamental Technologies LLC bought a new position in shares of Sanderson Farms during the first quarter valued at $30,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Sanderson Farms by 2,890.9% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 329 shares of the company’s stock valued at $33,000 after acquiring an additional 318 shares in the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of Sanderson Farms by 33.0% during the fourth quarter. Advisor Group Inc. now owns 874 shares of the company’s stock valued at $86,000 after acquiring an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 95.44% of the company’s stock.

In related news, insider Lampkin Butts sold 10,000 shares of Sanderson Farms stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $127.82, for a total value of $1,278,200.00. Following the completion of the sale, the insider now directly owns 121,611 shares in the company, valued at approximately $15,544,318.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Bierbusse sold 677 shares of Sanderson Farms stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total value of $77,137.38. Following the completion of the sale, the director now owns 12,675 shares of the company’s stock, valued at $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on SAFM shares. BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Buckingham Research set a $115.00 price target on Sanderson Farms and gave the company a “hold” rating in a report on Tuesday, March 5th. Jefferies Financial Group set a $77.00 price target on Sanderson Farms and gave the company a “sell” rating in a report on Tuesday, February 26th. ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 13th. Finally, Mizuho upgraded Sanderson Farms from a “neutral” rating to a “buy” rating and raised their price target for the company from $101.00 to $130.00 in a report on Monday, January 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $117.89.

NASDAQ SAFM opened at $149.00 on Friday. Sanderson Farms, Inc. has a one year low of $93.98 and a one year high of $154.82. The stock has a market capitalization of $3.30 billion, a P/E ratio of 49.34 and a beta of 0.83. The company has a quick ratio of 1.48, a current ratio of 2.82 and a debt-to-equity ratio of 0.04.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.82) by $1.00. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The company had revenue of $743.40 million during the quarter, compared to the consensus estimate of $705.25 million. During the same period last year, the company earned $2.24 EPS. Sanderson Farms’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Sanderson Farms, Inc. will post 3.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th were issued a $0.32 dividend. The ex-dividend date was Monday, May 6th. This represents a $1.28 annualized dividend and a yield of 0.86%. Sanderson Farms’s payout ratio is 42.38%.

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Sanderson Farms 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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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).

Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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