Sanderson Farms, Inc. (SAFM) Position Raised by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can boosted its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 26.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,011 shares of the company’s stock after buying an additional 7,370 shares during the period. Great West Life Assurance Co. Can owned approximately 0.15% of Sanderson Farms worth $4,046,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in SAFM. Strs Ohio boosted its position in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after buying an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Sanderson Farms during the first quarter valued at about $179,000. Affinity Investment Advisors LLC bought a new position in Sanderson Farms during the first quarter valued at about $209,000. Paragon Capital Management Ltd bought a new position in Sanderson Farms during the second quarter valued at about $209,000. Finally, Everence Capital Management Inc. bought a new position in Sanderson Farms during the first quarter valued at about $210,000.
Shares of Sanderson Farms, Inc. (SAFM) opened at 143.70 on Thursday. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $145.02. The company has a 50-day moving average of $125.45 and a 200 day moving average of $111.74. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.75 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last released its 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. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The firm had revenue of $802 million during the quarter, compared to the consensus estimate of $769.47 million. During the same quarter in the previous year, the company posted $2.11 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that Sanderson Farms, Inc. will post $10.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s payout ratio is presently 9.86%.
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Several research firms have issued reports on SAFM. Mizuho began coverage on shares of Sanderson Farms in a research note on Wednesday, June 7th. They set a “buy” rating and a $142.00 target price on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub cut shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Pacific Crest restated an “overweight” rating and set a $125.00 target price (up previously from $120.00) on shares of Sanderson Farms in a research note on Sunday, April 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $130.00 target price (up previously from $105.00) on shares of Sanderson Farms in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $119.44.
In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the business’s stock in a transaction that occurred on 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 directly owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dianne Mooney sold 1,103 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 13,072 shares of the company’s stock, valued at $1,538,443.68. The disclosure for this sale can be found here. Insiders own 5.66% of the company’s stock.
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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