Goldman Sachs Group Inc. raised its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 58.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,824 shares of the company’s stock after buying an additional 40,277 shares during the quarter. Goldman Sachs Group Inc. owned about 0.48% of Sanderson Farms worth $12,585,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SAFM. Advisor Group Inc. lifted its position in Sanderson Farms by 6.9% in the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after buying an additional 62 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Sanderson Farms during the second quarter worth about $125,000. PNC Financial Services Group Inc. lifted its position in shares of Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after purchasing an additional 662 shares in the last quarter. Strs Ohio lifted its position in shares of Sanderson Farms by 180.0% during the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after purchasing an additional 900 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of Sanderson Farms by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after purchasing an additional 499 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors.
Shares of Sanderson Farms, Inc. (NASDAQ SAFM) opened at 146.18 on Friday. The company’s 50 day moving average price is $154.41 and its 200 day moving average price is $131.40. Sanderson Farms, Inc. has a one year low of $74.07 and a one year high of $166.65. The firm has a market capitalization of $3.32 billion, a P/E ratio of 11.73 and a beta of 0.58.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $1.62. The firm had revenue of $931.90 million for the quarter, compared to analyst estimates of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. On average, analysts expect that Sanderson Farms, Inc. will post $12.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, October 2nd. Sanderson Farms’s payout ratio is 10.31%.
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In related news, Director Fred L. Banks, Jr. sold 3,000 shares of Sanderson Farms stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the sale, the director now owns 24,948 shares of the company’s stock, valued at $3,595,256.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert C. Khayat sold 1,775 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total value of $252,600.25. Following the transaction, the director now directly owns 12,043 shares in the company, valued at approximately $1,713,839.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,400 shares of company stock worth $771,199. Corporate insiders own 5.66% of the company’s stock.
A number of analysts recently weighed in on SAFM shares. BMO Capital Markets restated a “hold” rating and set a $150.00 target price on shares of Sanderson Farms in a research note on Friday, October 13th. JPMorgan Chase & Co. lowered shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $129.00 to $134.00 in a research note on Friday, October 6th. Mizuho set a $150.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research note on Wednesday, July 5th. Finally, Stephens lowered shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target on the stock. in a research note on Thursday, August 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Sanderson Farms presently has an average rating of “Hold” and a consensus price target of $131.27.
Sanderson Farms 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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