Keybank National Association OH lowered its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 71.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,862 shares of the company’s stock after selling 17,450 shares during the quarter. Keybank National Association OH’s holdings in Sanderson Farms were worth $794,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 1st Global Advisors Inc. grew its holdings in Sanderson Farms by 1.4% in the 1st quarter. 1st Global Advisors Inc. now owns 3,007 shares of the company’s stock valued at $312,000 after buying an additional 42 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Sanderson Farms by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 7,640 shares of the company’s stock worth $793,000 after purchasing an additional 70 shares in the last quarter. Biltmore Wealth Management LLC grew its holdings in shares of Sanderson Farms by 1.4% during the 2nd quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock worth $692,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Sanderson Farms by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 10,484 shares of the company’s stock worth $1,212,000 after purchasing an additional 100 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Sanderson Farms by 1.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,155 shares of the company’s stock worth $951,000 after purchasing an additional 118 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.
Sanderson Farms, Inc. (SAFM) opened at 163.82 on Friday. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $165.50. The company has a market cap of $3.73 billion, a P/E ratio of 13.15 and a beta of 0.56. The firm has a 50-day moving average price of $144.49 and a 200 day moving average price of $121.06.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating the consensus estimate of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. During the same period in the prior year, the firm posted $2.42 earnings per share. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities analysts expect that Sanderson Farms, Inc. will post $12.80 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Tuesday, October 3rd will be paid a $0.32 dividend. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Monday, October 2nd. Sanderson Farms’s dividend payout ratio is presently 7.74%.
SAFM has been the topic of several recent research reports. BMO Capital Markets reissued a “hold” rating and set a $130.00 price objective (up previously from $105.00) on shares of Sanderson Farms in a report on Friday, May 26th. Jefferies Group LLC decreased their price objective on Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating on the stock in a report on Tuesday, May 30th. ValuEngine upgraded Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Barclays PLC began coverage on Sanderson Farms in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $125.00 target price for the company. Finally, Mizuho began coverage on Sanderson Farms in a research report on Wednesday, June 7th. They set a “buy” rating and a $142.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $125.45.
In other news, Director Robert C. Khayat sold 1,775 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now owns 12,043 shares in the company, valued at $1,713,839.33. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the sale, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is owned by insiders.
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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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