Trustmark National Bank Trust Department lowered its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,220 shares of the company’s stock after selling 570 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Sanderson Farms were worth $397,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Nuance Investments LLC lifted its position in shares of Sanderson Farms by 120.8% in the 1st quarter. Nuance Investments LLC now owns 944,290 shares of the company’s stock worth $116,450,000 after acquiring an additional 516,627 shares during the period. State Street Corp lifted its position in shares of Sanderson Farms by 5.1% in the 1st quarter. State Street Corp now owns 909,714 shares of the company’s stock worth $112,186,000 after acquiring an additional 43,780 shares during the period. Victory Capital Management Inc. lifted its position in shares of Sanderson Farms by 39.8% in the 1st quarter. Victory Capital Management Inc. now owns 799,544 shares of the company’s stock worth $98,600,000 after acquiring an additional 227,637 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Sanderson Farms by 34.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 601,301 shares of the company’s stock worth $74,153,000 after acquiring an additional 155,685 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Sanderson Farms by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 277,904 shares of the company’s stock worth $48,971,000 after acquiring an additional 5,175 shares during the period. Institutional investors own 87.43% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Bank of America cut Sanderson Farms from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $135.00 in a report on Thursday, April 2nd. Credit Suisse Group dropped their target price on Sanderson Farms from $160.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, April 3rd. JPMorgan Chase & Co. dropped their target price on Sanderson Farms from $148.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. TheStreet cut Sanderson Farms from a “b-” rating to a “c” rating in a report on Monday, February 24th. Finally, ValuEngine raised Sanderson Farms from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Sanderson Farms has an average rating of “Hold” and a consensus target price of $146.63.
In other Sanderson Farms news, Director John Bierbusse sold 1,500 shares of Sanderson Farms stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $132.30, for a total transaction of $198,450.00. Following the transaction, the director now directly owns 11,801 shares in the company, valued at $1,561,272.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Phil K. Livingston sold 700 shares of Sanderson Farms stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $125.99, for a total value of $88,193.00. Following the transaction, the director now owns 8,771 shares in the company, valued at $1,105,058.29. The disclosure for this sale can be found here. Insiders own 5.38% of the company’s stock.
Shares of NASDAQ:SAFM traded down $5.46 during midday trading on Thursday, hitting $121.75. The company had a trading volume of 17,277 shares, compared to its average volume of 443,789. Sanderson Farms, Inc. has a 12 month low of $102.13 and a 12 month high of $179.45. The company has a current ratio of 3.04, a quick ratio of 1.71 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -1,034.17 and a beta of 0.65. The firm has a fifty day simple moving average of $135.25 and a 200 day simple moving average of $142.90.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $1.08. Sanderson Farms had a negative return on equity of 2.65% and a negative net margin of 0.06%. The business had revenue of $844.70 million for the quarter, compared to analyst estimates of $854.43 million. During the same period last year, the company earned $1.83 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities analysts forecast that Sanderson Farms, Inc. will post -3.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 12th. Shareholders of record on Tuesday, April 28th were issued a dividend of $0.32 per share. The ex-dividend date was Monday, April 27th. This represents a $1.28 annualized dividend and a yield of 1.05%. Sanderson Farms’s dividend payout ratio is presently 51.00%.
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-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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