AlphaMark Advisors LLC increased its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 29.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,571 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. AlphaMark Advisors LLC’s holdings in Sanderson Farms were worth $901,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Sanderson Farms by 4.9% during the 4th quarter. BlackRock Inc. now owns 2,193,866 shares of the company’s stock worth $304,466,000 after purchasing an additional 102,488 shares in the last quarter. Renaissance Technologies LLC increased its position in Sanderson Farms by 39.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,789,817 shares of the company’s stock worth $248,391,000 after purchasing an additional 501,917 shares in the last quarter. LSV Asset Management increased its position in Sanderson Farms by 1.3% during the 1st quarter. LSV Asset Management now owns 1,153,016 shares of the company’s stock worth $137,231,000 after purchasing an additional 15,100 shares in the last quarter. Acadian Asset Management LLC increased its position in Sanderson Farms by 11.2% during the 4th quarter. Acadian Asset Management LLC now owns 692,119 shares of the company’s stock worth $96,048,000 after purchasing an additional 69,797 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Sanderson Farms by 141.6% during the 4th quarter. APG Asset Management N.V. now owns 425,200 shares of the company’s stock worth $49,142,000 after purchasing an additional 249,200 shares in the last quarter.
In other Sanderson Farms news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $120.38, for a total transaction of $90,285.00. Following the sale, the director now directly owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The business had revenue of $771.90 million for the quarter, compared to the consensus estimate of $764.22 million. During the same period in the previous year, the firm earned $1.02 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. equities analysts predict that Sanderson Farms, Inc. will post 9.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, April 30th. Sanderson Farms’s payout ratio is 10.41%.
A number of research firms recently issued reports on SAFM. BidaskClub cut shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 8th. JPMorgan Chase lowered their price objective on shares of Sanderson Farms to $110.00 and set an “underweight” rating for the company in a research report on Friday, February 23rd. Mizuho reiterated a “hold” rating and set a $120.00 price objective on shares of Sanderson Farms in a research report on Monday, April 23rd. Finally, Barclays set a $135.00 price objective on shares of Sanderson Farms and gave the stock a “hold” rating in a research report on Sunday, February 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $125.33.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company that engages in the production, processing, marketing and distribution of fresh, frozen, further processed and partially cooked chicken products. It operates through three divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.
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