Shufro Rose & Co. LLC lowered its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 13.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,090 shares of the company’s stock after selling 8,075 shares during the period. Shufro Rose & Co. LLC owned approximately 0.22% of Sanderson Farms worth $5,793,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1st Global Advisors Inc. boosted its position in Sanderson Farms by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 3,007 shares of the company’s stock valued at $312,000 after buying an additional 42 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock valued at $229,000 after buying an additional 60 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Sanderson Farms by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,640 shares of the company’s stock valued at $793,000 after buying an additional 70 shares in the last quarter. Biltmore Wealth Management LLC boosted its position in Sanderson Farms by 1.4% in the second quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock valued at $692,000 after buying an additional 85 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Sanderson Farms by 1.0% in the second quarter. Arizona State Retirement System now owns 10,484 shares of the company’s stock valued at $1,212,000 after buying an additional 100 shares in the last quarter.
Shares of Sanderson Farms, Inc. (NASDAQ SAFM) opened at 139.90 on Monday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 14.36 and a beta of 0.62. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $141.00. The stock has a 50 day moving average price of $123.49 and a 200 day moving average price of $110.46.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results on Thursday, May 25th. The company reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.72 by $0.22. The business had revenue of $802 million during the quarter, compared to the consensus estimate of $769.47 million. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $2.11 earnings per share. On average, equities analysts anticipate that Sanderson Farms, Inc. will post $10.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.69%. Sanderson Farms’s dividend payout ratio (DPR) is 9.86%.
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Several research firms have recently issued reports on SAFM. Mizuho began coverage on Sanderson Farms in a research report on Wednesday, June 7th. They set a “buy” rating and a $142.00 price objective for the company. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Pacific Crest reissued an “overweight” rating and issued a $125.00 target price (up from $120.00) on shares of Sanderson Farms in a report on Sunday, April 23rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $130.00 target price (up from $105.00) on shares of Sanderson Farms in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Sanderson Farms currently has an average rating of “Buy” and an average target price of $119.44.
In related news, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the transaction, the director now directly owns 13,072 shares in the company, valued at $1,538,443.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the transaction, the director now owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The disclosure for this sale can be found here. 5.66% 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 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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