California Public Employees Retirement System decreased its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,494 shares of the company’s stock after selling 7,115 shares during the period. California Public Employees Retirement System owned about 0.19% of Sanderson Farms worth $4,573,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SAFM. Victory Capital Management Inc. increased its holdings in Sanderson Farms by 219.0% during the second quarter. Victory Capital Management Inc. now owns 685,358 shares of the company’s stock valued at $72,065,000 after buying an additional 470,518 shares during the last quarter. Nuance Investments LLC increased its stake in shares of Sanderson Farms by 130.0% in the second quarter. Nuance Investments LLC now owns 781,526 shares of the company’s stock worth $82,177,000 after purchasing an additional 441,770 shares in the last quarter. Millennium Management LLC increased its stake in shares of Sanderson Farms by 118.7% in the second quarter. Millennium Management LLC now owns 478,423 shares of the company’s stock worth $50,306,000 after purchasing an additional 259,635 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Sanderson Farms by 2,249.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 169,207 shares of the company’s stock worth $17,792,000 after purchasing an additional 162,004 shares in the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Sanderson Farms in the second quarter worth $8,129,000. Institutional investors own 99.95% of the company’s stock.
Several equities analysts recently weighed in on SAFM shares. Jefferies Financial Group reaffirmed a “sell” rating and set a $77.00 target price on shares of Sanderson Farms in a research note on Thursday, August 23rd. TheStreet lowered shares of Sanderson Farms from a “b” rating to a “c+” rating in a research report on Wednesday, August 29th. Stephens upgraded shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research report on Friday, August 24th. BidaskClub lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday, September 21st. Finally, Buckingham Research lowered their target price on shares of Sanderson Farms from $95.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, August 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $98.22.
SAFM stock traded up $0.04 during trading on Friday, hitting $104.09. The company had a trading volume of 284,441 shares, compared to its average volume of 360,097. The company has a market capitalization of $2.39 billion, a PE ratio of 17.03 and a beta of 0.38. Sanderson Farms, Inc. has a 52-week low of $95.97 and a 52-week high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 23rd. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.17). The business had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $871.06 million. Sanderson Farms had a net margin of 5.29% and a return on equity of 9.41%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the business posted $5.09 EPS. As a group, analysts predict that Sanderson Farms, Inc. will post 2.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, October 1st. Sanderson Farms’s dividend payout ratio (DPR) is 10.41%.
In related news, Director John Bierbusse sold 875 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the completion of the sale, the director now directly owns 12,086 shares in the company, valued at approximately $1,328,734.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now owns 9,682 shares of the company’s stock, valued at $1,037,329.48. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
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About Sanderson Farms
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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.
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