Mason Street Advisors LLC purchased a new stake in Sanderson Farms Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent filing with the SEC. The firm purchased 3,884 shares of the company’s stock, valued at approximately $337,000.
A number of other institutional investors also recently modified their holdings of the company. Credit Agricole S A raised its position in shares of Sanderson Farms by 197.3% in the first quarter. Credit Agricole S A now owns 33,000 shares of the company’s stock valued at $2,976,000 after buying an additional 21,900 shares during the period. Huntington Asset Advisors Inc. bought a new position in shares of Sanderson Farms during the first quarter valued at approximately $902,000. Landscape Capital Management L.L.C. raised its position in shares of Sanderson Farms by 55.8% in the first quarter. Landscape Capital Management L.L.C. now owns 13,400 shares of the company’s stock valued at $1,208,000 after buying an additional 4,800 shares during the period. Bessemer Group Inc. raised its position in shares of Sanderson Farms by 63.0% in the first quarter. Bessemer Group Inc. now owns 170,114 shares of the company’s stock valued at $15,341,000 after buying an additional 65,746 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Sanderson Farms during the first quarter valued at approximately $424,000. 93.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) opened at 89.15 on Friday. The company’s 50-day moving average is $95.02 and its 200-day moving average is $89.93. Sanderson Farms Inc. has a 12-month low of $64.54 and a 12-month high of $99.40. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 14.30 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 25th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.11 by $0.31. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The company earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. During the same period last year, the company posted $2.27 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts forecast that Sanderson Farms Inc. will post $7.38 earnings per share 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 issued a $1.00 dividend. This represents a dividend yield of 1.01%. This is a boost 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 15.43%.
Several research firms have recently issued reports on SAFM. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Wednesday, July 27th. DA Davidson began coverage on shares of Sanderson Farms in a research report on Wednesday. They issued a “neutral” rating and a $103.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.38.
In related news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $97.00, for a total transaction of $72,750.00. Following the completion of the sale, the director now directly owns 14,296 shares in the company, valued at $1,386,712. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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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