TD Asset Management Inc. Lowers Position in Sanderson Farms, Inc. (SAFM)
TD Asset Management Inc. decreased its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,500 shares of the company’s stock after selling 1,500 shares during the period. TD Asset Management Inc. owned approximately 0.14% of Sanderson Farms worth $3,643,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in SAFM. Chicago Partners Investment Group LLC acquired a new stake in Sanderson Farms during the second quarter valued at approximately $125,000. Strs Ohio raised its stake 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 during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Sanderson Farms during the first quarter valued at approximately $179,000. Affinity Investment Advisors LLC acquired a new stake in Sanderson Farms during the first quarter valued at approximately $209,000. Finally, Paragon Capital Management Ltd acquired a new stake in Sanderson Farms during the second quarter valued at approximately $209,000.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 140.53 on Monday. 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 $126.79 and a 200 day moving average of $112.30. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 14.43 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results 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 firm had revenue of $802 million during the quarter, compared to analysts’ expectations of $769.47 million. During the same period in the previous year, the business earned $2.11 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Analysts predict that Sanderson Farms, Inc. will post $10.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s payout ratio is 9.86%.
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Several equities research analysts have recently commented on SAFM shares. BidaskClub lowered shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report 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 target 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 target 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 target for the company. Finally, Stephens lowered shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price target for the company. in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $122.00.
In related news, Director Dianne Mooney sold 1,103 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the sale, the director now directly owns 13,072 shares in the company, valued at $1,538,443.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, 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 insiders.
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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