Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 31.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,111 shares of the company’s stock after selling 501 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sanderson Farms were worth $128,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC acquired a new position in shares of Sanderson Farms during the 2nd quarter worth approximately $125,000. Strs Ohio raised its stake in shares of Sanderson Farms by 180.0% during the 2nd quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Sanderson Farms during the 1st quarter worth approximately $179,000. Paragon Capital Management Ltd acquired a new position in shares of Sanderson Farms during the 2nd quarter worth approximately $209,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Sanderson Farms during the 2nd quarter worth approximately $250,000. 99.95% of the stock is owned by institutional investors and hedge funds.

Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 163.37 on Friday. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $163.91. The company has a 50-day moving average price of $144.49 and a 200 day moving average price of $121.06. The firm has a market capitalization of $3.72 billion, a P/E ratio of 13.11 and a beta of 0.56.

Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 24th. The company reported $5.09 EPS for the quarter, topping the Zacks’ consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million for the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. Sanderson Farms’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. Analysts expect that Sanderson Farms, Inc. will post $12.80 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.79%. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. Sanderson Farms’s payout ratio is presently 7.74%.

In other Sanderson Farms news, Director Fred L. Banks, Jr. sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $144.11, for a total transaction of $432,330.00. Following the sale, the director now directly owns 24,948 shares in the company, valued at $3,595,256.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert C. Khayat sold 1,775 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $142.31, for a total value of $252,600.25. Following the sale, the director now owns 12,043 shares in the company, valued at $1,713,839.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,400 shares of company stock worth $771,199. 5.66% of the stock is owned by company insiders.

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Several brokerages have recently weighed in on SAFM. Zacks Investment Research downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. 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 set a $130.00 target price (up from $105.00) on shares of Sanderson Farms in a research note on Friday, May 26th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $129.00 target price (up from $112.00) on shares of Sanderson Farms in a research note on Thursday, August 24th. Finally, Stephens downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 target price for the company. in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $125.45.

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

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