First Trust Advisors LP boosted its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,951 shares of the company’s stock after buying an additional 2,360 shares during the period. First Trust Advisors LP owned 0.22% of Sanderson Farms worth $8,068,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of SAFM. Advisor Group Inc. lifted its holdings in shares of Sanderson Farms by 6.9% during the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after purchasing an additional 62 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Sanderson Farms by 144.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after purchasing an additional 662 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Sanderson Farms during the 2nd quarter worth about $125,000. Foster & Motley Inc. acquired a new stake in Sanderson Farms during the 3rd quarter worth about $213,000. Finally, Strs Ohio grew its position in 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 purchasing an additional 900 shares during the period. Institutional investors own 99.95% of the company’s stock.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at $158.51 on Monday. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $166.65. The firm has a market cap of $3,605.22, a P/E ratio of 12.77 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $1.62. The firm had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. research analysts expect that Sanderson Farms, Inc. will post 12.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd were paid a $0.32 dividend. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.28 annualized dividend and a dividend yield of 0.81%. Sanderson Farms’s payout ratio is 10.31%.
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In other Sanderson Farms news, Director John Bierbusse sold 625 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $138.03, for a total value of $86,268.75. Following the completion of the transaction, the director now owns 14,776 shares in the company, valued at $2,039,531.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now owns 24,948 shares of the company’s stock, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,400 shares of company stock valued at $771,199. Insiders own 5.66% of the company’s stock.
SAFM has been the topic of a number of analyst reports. Stephens restated an “equal weight” rating and set a $170.00 target price (up from $145.00) on shares of Sanderson Farms in a research report on Monday, September 25th. Mizuho lowered shares of Sanderson Farms from a “buy” rating to a “neutral” rating and raised their price target for the company from $151.00 to $160.00 in a research note on Monday, October 2nd. J P Morgan Chase & Co lowered shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $129.00 to $134.00 in a research note on Friday, October 6th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Sanderson Farms from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $132.00.
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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