Koch Industries Inc. bought a new stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 311,456 shares of the company’s stock, valued at approximately $309,000. Koch Industries Inc. owned 1.37% of Sanderson Farms at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Sanderson Farms by 6.9% during the second 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. PNC Financial Services Group Inc. lifted its stake in Sanderson Farms by 144.9% in the second 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 during the period. Chicago Partners Investment Group LLC purchased a new stake in Sanderson Farms in the second quarter worth about $125,000. Strs Ohio lifted its stake in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after acquiring an additional 900 shares during the period. Finally, Riverhead Capital Management LLC lifted its stake in Sanderson Farms by 49.9% in the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after acquiring an additional 499 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping the Zacks’ consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million for the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. Sanderson Farms’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.88%. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, October 2nd. Sanderson Farms’s payout ratio is presently 10.31%.
In other Sanderson Farms news, Director Robert C. Khayat sold 1,775 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now directly owns 12,043 shares in the company, valued at $1,713,839.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the sale, the director now owns 24,948 shares in the company, valued at $3,595,256.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,400 shares of company stock worth $771,199. 5.66% of the stock is owned by company insiders.
A number of analysts recently weighed in on SAFM shares. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective for the company in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Sanderson Farms in a research note on Tuesday, June 27th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub lowered shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, J P Morgan Chase & Co lowered shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and upped their price objective for the stock 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, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Sanderson Farms has an average rating of “Hold” and an average price target of $131.27.
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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