Legal & General Group Plc raised its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,443 shares of the company’s stock after acquiring an additional 3,559 shares during the quarter. Legal & General Group Plc owned approximately 0.18% of Sanderson Farms worth $4,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SAFM. Chicago Partners Investment Group LLC acquired a new position in Sanderson Farms in the 2nd quarter valued at about $125,000. Strs Ohio grew its position in Sanderson Farms by 180.0% in the 2nd quarter. Strs Ohio now owns 1,400 shares of the company’s stock valued at $161,000 after acquiring an additional 900 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Sanderson Farms in the 1st quarter valued at about $179,000. Paragon Capital Management Ltd acquired a new position in Sanderson Farms in the 2nd quarter valued at about $209,000. Finally, Parkwood LLC acquired a new position in Sanderson Farms in the 1st quarter valued at about $226,000. 99.99% of the stock is owned by institutional investors.

In other news, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total value of $432,330.00. Following the completion of the sale, the director now owns 24,948 shares in the company, valued at $3,595,256.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert C. Khayat sold 1,775 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total value of $252,600.25. Following the completion of the sale, the director now owns 12,043 shares of the company’s stock, valued at approximately $1,713,839.33. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,400 shares of company stock valued at $771,199. Insiders own 5.66% of the company’s stock.

Several research firms have weighed in on SAFM. Mizuho began coverage on Sanderson Farms in a research report on Wednesday, June 7th. They issued a “buy” rating and a $142.00 target price for the company. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co reissued a “neutral” rating and set a $129.00 price objective (up from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. Finally, Barclays PLC set a $136.00 price objective on Sanderson Farms and gave the stock a “hold” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $125.45.

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Sanderson Farms, Inc. (NASDAQ SAFM) opened at 150.42 on Monday. The stock’s 50 day moving average price is $138.26 and its 200-day moving average price is $117.61. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $152.63. The firm has a market capitalization of $3.42 billion, a P/E ratio of 12.08 and a beta of 0.56.

Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The business had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. During the same quarter last year, the firm earned $2.42 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, analysts forecast that Sanderson Farms, Inc. will post $12.80 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were paid a $0.24 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.64%. Sanderson Farms’s dividend payout ratio (DPR) is currently 7.74%.

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.

Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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