Sanderson Farms, Inc. (SAFM) Director Robert C. Khayat Sells 1,775 Shares
Sanderson Farms, Inc. (NASDAQ:SAFM) Director Robert C. Khayat sold 1,775 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now owns 12,043 shares of the company’s stock, valued at approximately $1,713,839.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Sanderson Farms, Inc. (NASDAQ SAFM) traded up 0.194% during trading on Thursday, reaching $146.995. 253,329 shares of the company’s stock traded hands. The company’s 50 day moving average is $129.90 and its 200-day moving average is $114.04. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $148.69. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 11.800 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm had revenue of $931.90 million for the quarter, compared to the consensus estimate of $921.40 million. During the same period in the prior year, the firm posted $2.42 earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, analysts anticipate that Sanderson Farms, Inc. will post $12.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s payout ratio is 7.74%.
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Several large investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Sanderson Farms by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 34,741 shares of the company’s stock worth $3,274,000 after buying an additional 664 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Sanderson Farms by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock worth $851,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue increased 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 worth $229,000 after buying an additional 60 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Sanderson Farms by 7.8% in the first quarter. First Citizens Bank & Trust Co. now owns 2,611 shares of the company’s stock worth $271,000 after buying an additional 189 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Sanderson Farms during the first quarter worth about $796,000. 99.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on SAFM shares. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Thursday, July 27th. Mizuho started 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 for the company. Jefferies Group LLC restated a “sell” rating and set a $85.00 target price on shares of Sanderson Farms in a research note on Friday, June 9th. Finally, BMO Capital Markets restated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $125.45.
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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