Sanderson Farms, Inc. (SAFM) Shares Sold by Eqis Capital Management Inc.
Eqis Capital Management Inc. decreased its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 29.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,356 shares of the company’s stock after selling 974 shares during the period. Eqis Capital Management Inc.’s holdings in Sanderson Farms were worth $272,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. 1st Global Advisors Inc. raised its stake in shares of 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 during the period. State of Alaska Department of Revenue raised its stake in shares of 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 during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of 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 during the period. BNP Paribas Arbitrage SA raised its stake in shares of Sanderson Farms by 1.3% in the first quarter. BNP Paribas Arbitrage SA now owns 9,155 shares of the company’s stock valued at $951,000 after buying an additional 118 shares during the period. Finally, US Bancorp DE raised its stake in shares of Sanderson Farms by 0.7% in the first quarter. US Bancorp DE now owns 18,725 shares of the company’s stock valued at $1,944,000 after buying an additional 134 shares during the period.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) traded up 1.52% during trading on Monday, hitting $136.57. 352,169 shares of the stock traded hands. The company has a 50-day moving average of $121.29 and a 200-day moving average of $108.28. The firm has a market cap of $3.11 billion, a P/E ratio of 14.02 and a beta of 0.62. Sanderson Farms, Inc. has a 52 week low of $74.07 and a 52 week high of $136.79.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 25th. The company reported $2.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. During the same quarter in the previous year, the company posted $2.11 earnings per share. Sanderson Farms’s revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Sanderson Farms, Inc. will post $10.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s payout ratio is currently 9.86%.
Several equities research analysts have recently commented on SAFM shares. BMO Capital Markets reiterated a “hold” rating and set a $105.00 price target on shares of Sanderson Farms in a research report on Wednesday, April 12th. Pacific Crest reiterated an “overweight” rating and set a $125.00 price target (up previously from $120.00) on shares of Sanderson Farms in a research report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 target price on the stock in a research report on Tuesday, May 2nd. Jefferies Group LLC cut their target price on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 30th. Finally, ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $119.44.
In related news, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction on Friday, May 26th. The stock was sold at an average price of $121.50, for a total transaction of $60,750.00. Following the transaction, the director now directly owns 9,673 shares in the company, valued at $1,175,269.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the transaction, the director now owns 13,072 shares in the company, valued at $1,538,443.68. The disclosure for this sale can be found here. Insiders own 5.66% of the company’s stock.
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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