KCG Holdings Inc. Acquires Shares of 4,518 Sanderson Farms, Inc. (NASDAQ:SAFM)
KCG Holdings Inc. purchased a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the first quarter, according to its most recent filing with the SEC. The firm purchased 4,518 shares of the company’s stock, valued at approximately $469,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Sanderson Farms during the first quarter valued at $179,000. Affinity Investment Advisors LLC bought a new position in Sanderson Farms during the first quarter valued at $209,000. Everence Capital Management Inc. bought a new position in Sanderson Farms during the first quarter valued at $210,000. Parkwood LLC bought a new position in Sanderson Farms during the first quarter valued at $226,000. Finally, State of Alaska Department of Revenue boosted 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 in the last quarter.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) traded down 0.66% during mid-day trading on Tuesday, hitting $135.67. 283,783 shares of the company traded hands. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $136.59. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 13.93 and a beta of 0.62. The firm has a 50-day moving average price of $121.72 and a 200 day moving average price of $108.82.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.72 by $0.22. The firm had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. Sanderson Farms’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 EPS. Equities research analysts anticipate that Sanderson Farms, Inc. will post $10.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.71%. Sanderson Farms’s dividend payout ratio is presently 9.86%.
Several research firms have recently weighed in on SAFM. BidaskClub cut shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Mizuho started coverage on shares of 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 raised shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Thursday, July 27th. Barclays PLC started coverage on shares of Sanderson Farms in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $125.00 price objective for the company. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $130.00 price objective on shares of Sanderson Farms in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sanderson Farms presently has an average rating of “Buy” and a consensus target price of $119.44.
In related news, Director Phil K. Livingston sold 500 shares of the stock in a transaction dated Friday, May 26th. The shares were 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 in the company, valued at approximately $1,175,269.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dianne Mooney sold 1,103 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. Corporate 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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