Acadian Asset Management LLC raised its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 50.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,085 shares of the company’s stock after buying an additional 104,783 shares during the period. Acadian Asset Management LLC owned 1.37% of Sanderson Farms worth $35,979,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Sanderson Farms during the fourth quarter valued at approximately $21,881,000. Teachers Advisors LLC raised its position in Sanderson Farms by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 34,741 shares of the company’s stock valued at $3,274,000 after buying an additional 664 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Sanderson Farms by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock valued at $851,000 after buying an additional 200 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Sanderson Farms during the first quarter valued at approximately $210,000. Finally, State of Alaska Department of Revenue raised its position in Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock valued at $229,000 after buying an additional 60 shares in the last quarter.
Shares of Sanderson Farms, Inc. (NASDAQ SAFM) opened at 143.70 on Thursday. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $145.02. The stock has a 50 day moving average of $125.45 and a 200 day moving average of $111.74. The stock has a market capitalization of $3.27 billion, a PE ratio of 14.75 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.22. The company had revenue of $802 million for the quarter, compared to analyst estimates of $769.47 million. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. Analysts forecast that Sanderson Farms, Inc. will post $10.96 earnings per share for the current year.
The company 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 was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.67%. Sanderson Farms’s payout ratio is currently 9.86%.
SAFM has been the topic of several recent research reports. Pacific Crest reaffirmed an “overweight” rating and set a $125.00 target price (up previously from $120.00) on shares of Sanderson Farms in a report on Sunday, April 23rd. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price target for the company in a research report on Tuesday, May 2nd. BMO Capital Markets reissued a “hold” rating and set a $130.00 price target (up previously from $105.00) on shares of Sanderson Farms in a research report on Friday, May 26th. Jefferies Group LLC dropped their price target on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a research report on Tuesday, May 30th. Finally, ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $119.44.
In other news, Director Phil K. Livingston sold 500 shares of Sanderson Farms 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 transaction, the director now owns 9,673 shares in the company, valued at approximately $1,175,269.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $117.69, for a total value of $129,812.07. Following the transaction, the director now owns 13,072 shares in the company, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.
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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