Rhumbline Advisers trimmed its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,094 shares of the company’s stock after selling 3,867 shares during the quarter. Rhumbline Advisers’ holdings in Sanderson Farms were worth $8,186,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SAFM. Norges Bank purchased a new position in shares of Sanderson Farms during the 4th quarter valued at approximately $34,883,000. Dimensional Fund Advisors LP increased its holdings in shares of Sanderson Farms by 12.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock valued at $168,157,000 after purchasing an additional 186,527 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Sanderson Farms by 22.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock valued at $74,705,000 after purchasing an additional 137,978 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Sanderson Farms by 110.5% during the 4th quarter. Deutsche Bank AG now owns 261,489 shares of the company’s stock valued at $25,960,000 after purchasing an additional 137,259 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Sanderson Farms by 98.8% during the 4th quarter. Millennium Management LLC now owns 250,761 shares of the company’s stock valued at $24,898,000 after purchasing an additional 124,645 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.
In other Sanderson Farms news, insider Lampkin Butts sold 10,000 shares of Sanderson Farms stock in a transaction on Friday, March 15th. The shares were sold at an average price of $127.82, for a total transaction of $1,278,200.00. Following the sale, the insider now owns 121,611 shares of the company’s stock, valued at approximately $15,544,318.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Bierbusse sold 677 shares of Sanderson Farms stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total transaction of $77,137.38. Following the sale, the director now directly owns 12,675 shares in the company, valued at approximately $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is currently owned by company insiders.
Sanderson Farms stock opened at $146.81 on Wednesday. Sanderson Farms, Inc. has a 1 year low of $93.98 and a 1 year high of $154.82. The firm has a market capitalization of $3.30 billion, a P/E ratio of 48.61 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.48 and a current ratio of 2.82.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.82) by $1.00. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. The firm had revenue of $743.40 million for the quarter, compared to analysts’ expectations of $705.25 million. During the same quarter last year, the company earned $2.24 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, analysts forecast that Sanderson Farms, Inc. will post 3.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.28 dividend on an annualized basis and a yield of 0.87%. Sanderson Farms’s dividend payout ratio is currently 42.38%.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Goldman Sachs Group raised shares of Sanderson Farms from a “sell” rating to a “neutral” rating and lifted their price target for the company from $81.00 to $131.00 in a research note on Tuesday, April 23rd. Stephens began coverage on shares of Sanderson Farms in a research note on Monday, March 4th. They issued an “equal weight” rating and a $130.00 price target on the stock. Buckingham Research lifted their price target on shares of Sanderson Farms from $115.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group reissued a “sell” rating and issued a $77.00 price target on shares of Sanderson Farms in a research note on Sunday, February 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $117.89.
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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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