Great West Life Assurance Co. Can Has $150,000 Stake in Sanderson Farms Inc. (SAFM)
Great West Life Assurance Co. Can continued to hold its position in shares of Sanderson Farms Inc. (NASDAQ:SAFM) during the second quarter, Holdings Channel reports. The institutional investor owned 1,662 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Sanderson Farms were worth $150,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of SAFM. BlackRock Institutional Trust Company N.A. raised its position in shares of Sanderson Farms by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 517,354 shares of the company’s stock valued at $46,655,000 after buying an additional 6,540 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sanderson Farms by 15.2% in the first quarter. Renaissance Technologies LLC now owns 326,400 shares of the company’s stock valued at $29,435,000 after buying an additional 42,983 shares during the period. Canada Pension Plan Investment Board increased its stake in Sanderson Farms by 4,637.5% in the first quarter. Canada Pension Plan Investment Board now owns 113,700 shares of the company’s stock valued at $10,253,000 after buying an additional 111,300 shares during the period. AXA increased its stake in Sanderson Farms by 211.0% in the first quarter. AXA now owns 76,500 shares of the company’s stock valued at $6,899,000 after buying an additional 51,900 shares during the period. Finally, Prudential Financial Inc. increased its stake in Sanderson Farms by 1.1% in the first quarter. Prudential Financial Inc. now owns 60,993 shares of the company’s stock valued at $5,501,000 after buying an additional 688 shares during the period. Institutional investors own 93.29% of the company’s stock.
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) traded up 0.88% on Thursday, reaching $95.54. The company’s stock had a trading volume of 659,744 shares. The stock has a 50 day moving average of $93.37 and a 200-day moving average of $89.51. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 15.32 and a beta of 0.05. Sanderson Farms Inc. has a 12 month low of $64.54 and a 12 month high of $99.40.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 25th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.31. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The company had revenue of $728 million for the quarter, compared to the consensus estimate of $749.76 million. During the same quarter last year, the business posted $2.27 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Sanderson Farms Inc. will post $7.39 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Tuesday, October 18th. Investors of record on Tuesday, October 4th will be given a $1.00 dividend. This is an increase from Sanderson Farms’s previous special dividend of $0.50. Sanderson Farms’s dividend payout ratio (DPR) is 14.15%.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a report on Wednesday, July 27th. JPMorgan Chase & Co. downgraded Sanderson Farms from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $96.00 to $95.00 in a report on Friday, May 27th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.71.
In related news, Director John Bierbusse sold 750 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $97.00, for a total value of $72,750.00. Following the transaction, the director now owns 14,296 shares of the company’s stock, valued at $1,386,712. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.45% of the stock is owned by corporate 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 the preparation, processing, marketing and distribution of processed and prepared chicken items. The Company sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, primarily under the Sanderson Farms brand name to retailers, distributors and casual dining operators principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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