Martingale Asset Management L P lowered its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,321 shares of the company’s stock after selling 2,094 shares during the quarter. Martingale Asset Management L P’s holdings in Sanderson Farms were worth $7,400,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of SAFM. PNC Financial Services Group Inc. raised its stake in shares of Sanderson Farms by 144.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after acquiring an additional 662 shares in the last quarter. World Asset Management Inc bought a new position in shares of Sanderson Farms during the 3rd quarter worth approximately $207,000. Saturna Capital CORP bought a new position in shares of Sanderson Farms during the 3rd quarter worth approximately $226,000. Stratos Wealth Partners LTD. bought a new position in shares of Sanderson Farms during the 3rd quarter worth approximately $234,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Sanderson Farms during the 4th quarter worth approximately $257,000.
Several research analysts recently commented on the stock. BMO Capital Markets reiterated a “hold” rating and set a $140.00 price objective on shares of Sanderson Farms in a research note on Monday, December 18th. JPMorgan Chase & Co. reduced their price objective on shares of Sanderson Farms to $110.00 and set an “underweight” rating for the company in a research note on Friday. BidaskClub lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Barclays reiterated an “equal weight” rating and set a $150.00 price objective (up previously from $136.00) on shares of Sanderson Farms in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $132.82.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The company had revenue of $771.90 million for the quarter, compared to analyst estimates of $764.22 million. During the same quarter in the previous year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. research analysts forecast that Sanderson Farms, Inc. will post 9.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, January 30th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.07%. Sanderson Farms’s payout ratio is 9.50%.
In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
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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 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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