Schwab Charles Investment Management Inc. boosted its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,795 shares of the company’s stock after buying an additional 16,965 shares during the period. Schwab Charles Investment Management Inc. owned about 0.66% of Sanderson Farms worth $15,659,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Comerica Bank raised its stake in Sanderson Farms by 6.8% in the fourth quarter. Comerica Bank now owns 18,075 shares of the company’s stock worth $1,708,000 after buying an additional 1,149 shares during the period. State Street Corp raised its stake in Sanderson Farms by 10.2% in the fourth quarter. State Street Corp now owns 456,022 shares of the company’s stock worth $42,975,000 after buying an additional 42,363 shares during the period. Two Sigma Investments LP raised its stake in Sanderson Farms by 542.3% in the fourth quarter. Two Sigma Investments LP now owns 11,500 shares of the company’s stock worth $1,084,000 after buying an additional 14,100 shares during the period. Thrivent Financial for Lutherans raised its stake in Sanderson Farms by 3.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,800 shares of the company’s stock worth $1,115,000 after buying an additional 430 shares during the period. Finally, Norges Bank bought a new stake in Sanderson Farms during the fourth quarter worth $21,881,000.
Sanderson Farms, Inc. (SAFM) traded down 0.66% during mid-day trading on Tuesday, hitting $135.67. The company had a trading volume of 283,783 shares. The company has a 50 day moving average of $121.72 and a 200 day moving average of $108.82. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $136.59. The firm has a market capitalization of $3.09 billion, a PE ratio of 13.93 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.22. The business had revenue of $802 million during the quarter, compared to the consensus estimate of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Analysts predict that Sanderson Farms, Inc. will post $10.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st will be given a $0.24 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.71%. Sanderson Farms’s dividend payout ratio (DPR) is currently 9.86%.
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A number of research firms have commented on SAFM. Mizuho began coverage on Sanderson Farms in a research report on Wednesday, June 7th. They set a “buy” rating and a $142.00 price target for the company. Pacific Crest reaffirmed an “overweight” rating and set a $125.00 price target (up previously from $120.00) on shares of Sanderson Farms in a research report on Sunday, April 23rd. BMO Capital Markets reaffirmed a “hold” rating and set a $105.00 price target on shares of Sanderson Farms in a research report on Wednesday, April 12th. BidaskClub lowered Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.44.
In related news, Director Dianne Mooney sold 1,103 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now owns 13,072 shares in the company, valued at approximately $1,538,443.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Phil K. Livingston sold 500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,175,269.50. The disclosure for this sale can be found here. 5.66% of the stock is owned by corporate insiders.
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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