Aviance Capital Management LLC lowered its position in shares of Sanderson Farms Inc. (NASDAQ:SAFM) by 14.0% during the second quarter, Holdings Channel reports. The fund owned 3,101 shares of the company’s stock after selling 503 shares during the period. Aviance Capital Management LLC’s holdings in Sanderson Farms were worth $269,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. raised its position in Sanderson Farms by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 517,354 shares of the company’s stock worth $46,655,000 after buying an additional 6,540 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Sanderson Farms by 15.2% in the first quarter. Renaissance Technologies LLC now owns 326,400 shares of the company’s stock worth $29,435,000 after buying an additional 42,983 shares during the period. AXA increased its stake in shares of Sanderson Farms by 211.0% in the first quarter. AXA now owns 76,500 shares of the company’s stock worth $6,899,000 after buying an additional 51,900 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Sanderson Farms by 4,637.5% in the first quarter. Canada Pension Plan Investment Board now owns 113,700 shares of the company’s stock worth $10,253,000 after buying an additional 111,300 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Sanderson Farms by 1.1% in the first quarter. Prudential Financial Inc. now owns 60,993 shares of the company’s stock worth $5,501,000 after buying an additional 688 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.
Sanderson Farms Inc. (NASDAQ:SAFM) traded up 0.96% during mid-day trading on Wednesday, reaching $95.83. The company had a trading volume of 470,970 shares. Sanderson Farms Inc. has a 1-year low of $64.54 and a 1-year high of $99.40. The company has a market capitalization of $2.16 billion, a PE ratio of 15.37 and a beta of 0.05. The firm has a 50-day moving average of $94.31 and a 200 day moving average of $89.66.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 25th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.31. The business earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.27 EPS. On average, analysts predict that Sanderson Farms Inc. will post $7.36 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 4th will be paid a $1.00 dividend. This represents a dividend yield of 1.01%. This is a positive change from Sanderson Farms’s previous special dividend of $0.50. The ex-dividend date is Friday, September 30th. Sanderson Farms’s dividend payout ratio (DPR) is presently 14.15%.
Separately, Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms currently has an average rating of “Hold” and an average target price of $81.71.
In other news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $97.00, for a total value of $72,750.00. Following the completion of the sale, the director now directly owns 14,296 shares of the company’s stock, valued at approximately $1,386,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.45% of the stock is owned by insiders.
About Sanderson Farms
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 the preparation, processing, marketing and distribution of processed and prepared chicken items. 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 principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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