Sanderson Farms, Inc. (NASDAQ:SAFM) Shares Sold by Morgan Dempsey Capital Management LLC
Morgan Dempsey Capital Management LLC decreased its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,002 shares of the company’s stock after selling 311 shares during the period. Morgan Dempsey Capital Management LLC owned about 0.08% of Sanderson Farms worth $2,082,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in SAFM. Chicago Partners Investment Group LLC bought a new stake in Sanderson Farms during the second quarter worth about $125,000. Strs Ohio raised its stake in Sanderson Farms by 180.0% in the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in Sanderson Farms during the first quarter worth about $179,000. Affinity Investment Advisors LLC bought a new stake in Sanderson Farms during the first quarter worth about $209,000. Finally, Paragon Capital Management Ltd bought a new stake in Sanderson Farms during the second quarter worth about $209,000.
Sanderson Farms, Inc. (SAFM) opened at 135.67 on Wednesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 13.93 and a beta of 0.62. The firm has a 50-day moving average price of $121.72 and a 200 day moving average price of $108.82. Sanderson Farms, Inc. has a one year low of $74.07 and a one year high of $136.59.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings data on Thursday, May 25th. The company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The firm had revenue of $802 million during the quarter, compared to analyst estimates of $769.47 million. During the same quarter last year, the business posted $2.11 EPS. The company’s revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Sanderson Farms, Inc. will post $10.94 earnings per share for the current year.
The company 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, July 28th. Sanderson Farms’s dividend payout ratio is 9.86%.
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A number of research firms recently issued reports on SAFM. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Thursday, July 27th. BidaskClub raised Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 target price (up previously from $105.00) on shares of Sanderson Farms in a research note on Friday, May 26th. Mizuho began coverage on Sanderson Farms in a research note on Wednesday, June 7th. They issued a “buy” rating and a $142.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $85.00 target price on shares of Sanderson Farms in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sanderson Farms currently has an average rating of “Buy” and an average target price of $119.44.
In related news, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the transaction, the director now owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dianne Mooney sold 1,103 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $117.69, for a total transaction of $129,812.07. Following the completion of the transaction, the director now directly owns 13,072 shares of the company’s stock, valued at approximately $1,538,443.68. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.
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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