Sanderson Farms, Inc. (NASDAQ:SAFM) Shares Sold by The PNC Financial Services Group Inc.

The PNC Financial Services Group Inc. cut its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 7.3% in the 1st quarter, HoldingsChannel reports. The fund owned 1,745 shares of the company’s stock after selling 137 shares during the period. The PNC Financial Services Group Inc.’s holdings in Sanderson Farms were worth $272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new position in Sanderson Farms in the 4th quarter valued at $40,000. NN Investment Partners Holdings N.V. acquired a new position in Sanderson Farms in the 1st quarter valued at $78,000. International Assets Investment Management LLC increased its holdings in shares of Sanderson Farms by 100.0% during the 1st quarter. International Assets Investment Management LLC now owns 664 shares of the company’s stock worth $96,000 after buying an additional 332 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Sanderson Farms during the 4th quarter worth $217,000. Finally, 6 Meridian acquired a new stake in shares of Sanderson Farms during the 1st quarter worth $230,000. Institutional investors own 80.27% of the company’s stock.

Shares of Sanderson Farms stock opened at $165.46 on Friday. The business’s fifty day simple moving average is $165.88. The company has a current ratio of 2.55, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Sanderson Farms, Inc. has a twelve month low of $108.57 and a twelve month high of $177.48. The stock has a market cap of $3.69 billion, a PE ratio of 48.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.66.

Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Wednesday, May 26th. The company reported $4.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $2.05. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Sanderson Farms had a net margin of 2.09% and a return on equity of 2.77%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the prior year, the company posted ($1.43) EPS. On average, analysts predict that Sanderson Farms, Inc. will post 9.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 18th. Shareholders of record on Tuesday, May 4th were given a $0.44 dividend. The ex-dividend date was Monday, May 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.06%. Sanderson Farms’s payout ratio is currently -429.27%.

SAFM has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Sanderson Farms from a “strong-buy” rating to a “hold” rating and set a $173.00 price objective for the company. in a report on Monday, May 3rd. BMO Capital Markets upped their price objective on Sanderson Farms from $180.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, May 28th. Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 16th. Credit Suisse Group upped their price objective on Sanderson Farms from $120.00 to $148.00 and gave the stock a “neutral” rating in a report on Friday, February 26th. Finally, Barclays cut shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $170.00 to $175.00 in a research report on Wednesday, June 2nd. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $163.00.

In other Sanderson Farms news, Director Toni D. Cooley sold 2,551 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $160.53, for a total value of $409,512.03. Following the completion of the transaction, the director now directly owns 25,568 shares of the company’s stock, valued at approximately $4,104,431.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.36% of the company’s stock.

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

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