Teachers Retirement System of The State of Kentucky held its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,400 shares of the company’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Sanderson Farms were worth $856,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SAFM. Advisor Group Inc. lifted its stake in shares of Sanderson Farms by 6.9% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after purchasing an additional 62 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Sanderson Farms in the 2nd quarter valued at about $125,000. PNC Financial Services Group Inc. lifted its stake in shares of Sanderson Farms by 144.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after purchasing an additional 662 shares during the period. Strs Ohio lifted its stake in shares of Sanderson Farms by 180.0% in the 2nd quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after purchasing an additional 900 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in shares of Sanderson Farms by 49.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock valued at $173,000 after purchasing an additional 499 shares during the period. 99.95% of the stock is currently owned by institutional investors.
Sanderson Farms, Inc. (SAFM) opened at 148.65 on Friday. The company’s 50-day moving average price is $154.16 and its 200-day moving average price is $128.45. The firm has a market capitalization of $3.38 billion, a P/E ratio of 11.93 and a beta of 0.58. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $166.65.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The business had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. During the same period last year, the business posted $2.42 earnings per share. Sanderson Farms’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities research analysts expect that Sanderson Farms, Inc. will post $12.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be issued a $0.32 dividend. The ex-dividend date of this dividend is Monday, October 2nd. This is a positive change from Sanderson Farms’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 0.86%. Sanderson Farms’s dividend payout ratio (DPR) is 10.31%.
SAFM has been the topic of a number of recent analyst reports. BidaskClub raised Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Thursday, July 27th. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price objective on shares of Sanderson Farms in a research note on Tuesday, June 27th. Mizuho downgraded Sanderson Farms from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $151.00 to $160.00 in a research note on Monday, October 2nd. Finally, J P Morgan Chase & Co downgraded Sanderson Farms from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $129.00 to $134.00 in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Sanderson Farms presently has a consensus rating of “Hold” and an average target price of $129.82.
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In other news, Director John Bierbusse sold 625 shares of Sanderson Farms stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $138.03, for a total transaction of $86,268.75. Following the completion of the transaction, the director now directly owns 14,776 shares in the company, valued at $2,039,531.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Khayat sold 1,775 shares of Sanderson Farms stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the transaction, the director now owns 12,043 shares of the company’s stock, valued at $1,713,839.33. The disclosure for this sale can be found here. Insiders sold 5,400 shares of company stock valued at $771,199 over the last 90 days. 5.66% of the stock is currently owned by company 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 also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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