Sanderson Farms, Inc. (SAFM) Position Lowered by BARING ASSET MANAGEMENT Ltd
BARING ASSET MANAGEMENT Ltd decreased its position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 6.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,357 shares of the company’s stock after selling 534 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Sanderson Farms were worth $850,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. 1st Global Advisors Inc. boosted its stake in shares of Sanderson Farms by 1.4% in the first quarter. 1st Global Advisors Inc. now owns 3,007 shares of the company’s stock worth $312,000 after buying an additional 42 shares in the last quarter. State of Alaska Department of Revenue boosted its position 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 period. Municipal Employees Retirement System of Michigan boosted its position in shares of Sanderson Farms by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,640 shares of the company’s stock worth $793,000 after buying an additional 70 shares during the period. Biltmore Wealth Management LLC boosted its position in shares of Sanderson Farms by 1.4% in the second quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock worth $692,000 after buying an additional 85 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Sanderson Farms by 1.0% in the second quarter. Arizona State Retirement System now owns 10,484 shares of the company’s stock worth $1,212,000 after buying an additional 100 shares during the period.
Shares of Sanderson Farms, Inc. (NASDAQ SAFM) opened at 140.23 on Friday. The stock’s 50 day moving average is $126.11 and its 200 day moving average is $111.94. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $145.02. The stock has a market cap of $3.19 billion, a P/E ratio of 14.39 and a beta of 0.62.
Sanderson Farms (NASDAQ:SAFM) last released 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. The firm 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 firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 earnings per share. Analysts predict that Sanderson Farms, Inc. will post $10.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, July 28th. Sanderson Farms’s dividend payout ratio is presently 9.86%.
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SAFM has been the subject of a number of research reports. Pacific Crest restated an “overweight” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Sanderson Farms in a report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective for the company in a report on Tuesday, May 2nd. BMO Capital Markets restated a “hold” rating and issued a $130.00 price objective (up previously from $105.00) on shares of Sanderson Farms in a report on Friday, May 26th. Jefferies Group LLC dropped their price objective on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a report on Tuesday, May 30th. Finally, ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five 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 “Buy” and a consensus price target of $119.44.
In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total value of $129,812.07. Following the completion of the transaction, the director now owns 13,072 shares of the company’s stock, valued at $1,538,443.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction on Friday, May 26th. The stock was sold at an average price of $121.50, for a total transaction of $60,750.00. Following the completion of the transaction, the director now directly owns 9,673 shares of the company’s stock, valued at approximately $1,175,269.50. The disclosure for this sale can be found here. 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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