Parkwood LLC Sells 370 Shares of Sanderson Farms, Inc. (NASDAQ:SAFM)
Parkwood LLC lowered its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,808 shares of the company’s stock after selling 370 shares during the period. Parkwood LLC’s holdings in Sanderson Farms were worth $209,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Paragon Capital Management Ltd purchased a new position in shares of Sanderson Farms during the second quarter worth $209,000. Acadian Asset Management LLC increased its stake in shares of Sanderson Farms by 50.8% in the second quarter. Acadian Asset Management LLC now owns 311,085 shares of the company’s stock worth $35,979,000 after buying an additional 104,783 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Sanderson Farms by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 285,513 shares of the company’s stock worth $33,025,000 after buying an additional 61,779 shares during the last quarter. Regentatlantic Capital LLC acquired a new stake in shares of Sanderson Farms during the second quarter worth about $1,280,000. Finally, Breton Hill Capital Ltd. increased its stake in shares of Sanderson Farms by 98.9% in the second quarter. Breton Hill Capital Ltd. now owns 15,559 shares of the company’s stock worth $1,799,000 after buying an additional 7,737 shares during the last quarter.
Shares of Sanderson Farms, Inc. (NASDAQ SAFM) traded up 1.96% during mid-day trading on Friday, hitting $134.72. 102,190 shares of the stock traded hands. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 13.83 and a beta of 0.62. Sanderson Farms, Inc. has a 12-month low of $74.07 and a 12-month high of $134.97. The firm’s 50 day moving average price is $121.29 and its 200 day moving average price is $108.28.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, May 25th. The company reported $2.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.72 by $0.22. The business had revenue of $802 million during the quarter, compared to the consensus estimate of $769.47 million. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 EPS. On average, equities research analysts predict that Sanderson Farms, Inc. will post $10.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.73%. Sanderson Farms’s payout ratio is 9.86%.
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SAFM has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 5th. Sidoti cut shares of Sanderson Farms from a “buy” rating to a “neutral” rating in a research note on Friday, April 7th. They noted that the move was a valuation call. BMO Capital Markets restated a “hold” rating and set a $130.00 target price on shares of Sanderson Farms in a research report on Tuesday, June 27th. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Finally, Jefferies Group LLC reduced their price objective on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $119.44.
In related news, Director Dianne Mooney sold 1,103 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the sale, the director now directly owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Phil K. Livingston sold 500 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $121.50, for a total transaction of $60,750.00. Following the completion of the sale, the director now directly owns 9,673 shares in the company, valued at $1,175,269.50. The disclosure for this sale can be found here. 5.66% of the stock is currently owned by corporate insiders.
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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