Principal Financial Group Inc. boosted its position in shares of Sanderson Farms Inc. (NASDAQ:SAFM) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,608 shares of the company’s stock after buying an additional 2,861 shares during the period. Principal Financial Group Inc. owned 0.64% of Sanderson Farms worth $12,442,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in Sanderson Farms by 0.4% in the second quarter. Capstone Asset Management Co. now owns 7,640 shares of the company’s stock valued at $662,000 after buying an additional 30 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Sanderson Farms by 5.1% in the second quarter. Meeder Asset Management Inc. now owns 1,942 shares of the company’s stock valued at $169,000 after buying an additional 95 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Sanderson Farms by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,814 shares of the company’s stock valued at $244,000 after buying an additional 347 shares during the last quarter. Swiss National Bank raised its stake in Sanderson Farms by 1.2% in the second quarter. Swiss National Bank now owns 33,200 shares of the company’s stock valued at $2,876,000 after buying an additional 400 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Sanderson Farms by 5.4% in the first quarter. Aperio Group LLC now owns 9,126 shares of the company’s stock valued at $823,000 after buying an additional 469 shares during the last quarter. Institutional investors own 93.30% of the company’s stock.
Sanderson Farms Inc. (NASDAQ:SAFM) opened at 93.94 on Tuesday. Sanderson Farms Inc. has a one year low of $64.54 and a one year high of $99.40. The firm has a market cap of $2.12 billion, a P/E ratio of 15.06 and a beta of 0.33. The stock has a 50 day moving average price of $95.04 and a 200-day moving average price of $90.00.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 25th. The company reported $2.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.31. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The company earned $728 million during the quarter, compared to analyst estimates of $749.76 million. During the same period last year, the company posted $2.27 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that Sanderson Farms Inc. will post $7.38 EPS for the current fiscal year.
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 30th. This is a positive change from Sanderson Farms’s previous special dividend of $0.50. This represents a dividend yield of 1.01%. Sanderson Farms’s dividend payout ratio (DPR) is 15.43%.
SAFM has been the subject of several analyst reports. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Wednesday, July 27th. DA Davidson initiated coverage on shares of Sanderson Farms in a report on Wednesday, October 5th. They set a “neutral” rating and a $103.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $84.38.
In other news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction 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 in the company, valued at $1,386,712. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.45% of the stock is owned by insiders.
Sanderson Farms Company Profile
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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