Sanderson Farms, Inc. (SAFM) Stake Decreased by KBC Group NV
KBC Group NV decreased its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,351 shares of the company’s stock after selling 6,621 shares during the period. KBC Group NV owned approximately 0.12% of Sanderson Farms worth $3,279,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SAFM. BlackRock Inc. increased its stake in Sanderson Farms by 38,073.7% in the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock valued at $280,451,000 after buying an additional 2,693,713 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sanderson Farms by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after buying an additional 122,658 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Sanderson Farms by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock worth $142,725,000 after buying an additional 411,406 shares during the period. LSV Asset Management increased its stake in shares of Sanderson Farms by 15.0% in the first quarter. LSV Asset Management now owns 1,077,121 shares of the company’s stock worth $111,848,000 after buying an additional 140,492 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sanderson Farms by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,011,000 shares of the company’s stock worth $104,982,000 after buying an additional 44,983 shares during the period.
Sanderson Farms, Inc. (SAFM) opened at 141.24 on Friday. The firm has a market cap of $3.21 billion, a PE ratio of 14.50 and a beta of 0.62. The stock has a 50 day moving average of $129.90 and a 200-day moving average of $114.04. Sanderson Farms, Inc. has a 52 week low of $74.07 and a 52 week high of $148.33.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, topping the consensus estimate of $3.47 by $1.62. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The company had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. During the same quarter last year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. Analysts expect that Sanderson Farms, Inc. will post $11.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 0.68%. Sanderson Farms’s dividend payout ratio is currently 7.74%.
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SAFM has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a report on Friday, May 5th. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price target on shares of Sanderson Farms in a report on Tuesday, June 27th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. BidaskClub downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Jefferies Group LLC reduced their price target on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Sanderson Farms presently has an average rating of “Hold” and an average price target of $125.45.
In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was 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 owns 13,072 shares in the company, valued at approximately $1,538,443.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.66% of the stock is owned by company 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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