Gargoyle Investment Advisor L.L.C. reduced its stake in Sanderson Farms Inc. (NASDAQ:SAFM) by 15.1% during the second quarter, Holdings Channel reports. The fund owned 5,622 shares of the company’s stock after selling 1,000 shares during the period. Gargoyle Investment Advisor L.L.C.’s holdings in Sanderson Farms were worth $487,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of SAFM. Aperio Group LLC boosted its position in Sanderson Farms by 5.4% in the first quarter. Aperio Group LLC now owns 9,126 shares of the company’s stock worth $823,000 after buying an additional 469 shares during the period. Teachers Advisors Inc. boosted its position in Sanderson Farms by 342.2% in the first quarter. Teachers Advisors Inc. now owns 144,507 shares of the company’s stock worth $13,032,000 after buying an additional 111,827 shares during the period. Prudential Financial Inc. boosted its position in 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. BlackRock Inc. boosted its position in Sanderson Farms by 120.2% in the first quarter. BlackRock Inc. now owns 1,546 shares of the company’s stock worth $140,000 after buying an additional 844 shares during the period. Finally, BlackRock Group LTD boosted its position in Sanderson Farms by 7.2% in the first quarter. BlackRock Group LTD now owns 30,937 shares of the company’s stock worth $2,790,000 after buying an additional 2,089 shares during the period. Institutional investors own 93.29% of the company’s stock.
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) traded up 0.42% during mid-day trading on Thursday, hitting $93.18. The stock had a trading volume of 408,319 shares. The company’s 50 day moving average price is $95.15 and its 200 day moving average price is $89.92. Sanderson Farms Inc. has a 12-month low of $64.54 and a 12-month high of $99.40. The stock has a market cap of $2.10 billion, a P/E ratio of 14.94 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, August 25th. The company reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.31. The firm earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. Sanderson Farms’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 EPS. Equities research analysts predict that Sanderson Farms Inc. will post $7.38 EPS for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Tuesday, October 4th will be paid a $1.00 dividend. This is a boost from Sanderson Farms’s previous special dividend of $0.50. This represents a yield of 1.01%. The ex-dividend date is Friday, September 30th. Sanderson Farms’s payout ratio is presently 15.43%.
A number of research analysts have commented on the company. DA Davidson assumed coverage on Sanderson Farms in a research note on Wednesday. They set a “neutral” rating and a $103.00 price target on the stock. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research note on Thursday, August 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $84.38.
In other Sanderson Farms news, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 26th. The shares were 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 can be accessed through this hyperlink. 5.45% of the stock is currently owned by company 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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