Sanderson Farms, Inc. (SAFM) Shares Sold by Dean Capital Management
Dean Capital Management lowered its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 49.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,420 shares of the company’s stock after selling 15,985 shares during the period. Dean Capital Management owned about 0.07% of Sanderson Farms worth $1,899,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of SAFM. BlackRock Inc. increased its position in shares of Sanderson Farms by 38,073.7% during the first quarter. BlackRock Inc. now owns 2,700,788 shares of the company’s stock worth $280,451,000 after purchasing an additional 2,693,713 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sanderson Farms by 42.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,374,475 shares of the company’s stock worth $142,725,000 after purchasing an additional 411,406 shares in the last quarter. Origin Asset Management LLP acquired a new stake in shares of Sanderson Farms during the second quarter worth about $32,665,000. Alliancebernstein L.P. increased its position in shares of Sanderson Farms by 603.4% during the second quarter. Alliancebernstein L.P. now owns 270,004 shares of the company’s stock worth $31,226,000 after purchasing an additional 231,621 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Sanderson Farms by 7.3% during the first quarter. Vanguard Group Inc. now owns 1,804,867 shares of the company’s stock worth $187,418,000 after purchasing an additional 122,658 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.
A number of analysts have recently commented on SAFM shares. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Thursday, July 27th. Stephens cut Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 target price on the stock. in a research report on Thursday, August 17th. BMO Capital Markets reiterated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research report on Tuesday, June 27th. Finally, Barclays PLC set a $136.00 target price on Sanderson Farms and gave the stock a “hold” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $129.82.
In other Sanderson Farms news, Director Fred L. Banks, Jr. sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total value of $432,330.00. Following the completion of the transaction, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Bierbusse sold 625 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the completion of the transaction, the director now owns 14,776 shares of the company’s stock, valued at approximately $2,039,531.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is owned by insiders.
Sanderson Farms, Inc. (NASDAQ:SAFM) traded down 0.30% during trading on Friday, hitting $148.21. The company had a trading volume of 195,097 shares. The company’s 50 day moving average price is $154.16 and its 200-day moving average price is $128.45. The company has a market cap of $3.37 billion, a PE ratio of 11.90 and a beta of 0.58. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $166.65.
Sanderson Farms (NASDAQ:SAFM) last released 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 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 analyst estimates of $921.40 million. During the same quarter in the prior year, the business earned $2.42 earnings per share. Sanderson Farms’s quarterly revenue was up 28.0% on a year-over-year basis. Equities analysts expect that Sanderson Farms, Inc. will post $12.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be given a $0.32 dividend. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date is Monday, October 2nd. This represents a $1.28 annualized dividend and a yield of 0.86%. Sanderson Farms’s dividend payout ratio is 10.31%.
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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