Keybank National Association OH Increases Stake in Sanderson Farms, Inc. (NASDAQ:SAFM)

Keybank National Association OH lifted its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,860 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Keybank National Association OH’s holdings in Sanderson Farms were worth $1,027,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SAFM. Raymond James Financial Services Advisors Inc. raised its position in shares of Sanderson Farms by 62.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,070 shares of the company’s stock valued at $255,000 after purchasing an additional 798 shares during the last quarter. Raymond James & Associates raised its position in shares of Sanderson Farms by 138.4% in the 1st quarter. Raymond James & Associates now owns 32,832 shares of the company’s stock valued at $4,049,000 after purchasing an additional 19,058 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Sanderson Farms by 53.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,737 shares of the company’s stock valued at $1,324,000 after purchasing an additional 3,747 shares during the last quarter. Strs Ohio increased its holdings in Sanderson Farms by 5.3% in the 1st quarter. Strs Ohio now owns 2,000 shares of the company’s stock worth $246,000 after buying an additional 100 shares during the period. Finally, Texas Permanent School Fund increased its holdings in Sanderson Farms by 24.0% in the 1st quarter. Texas Permanent School Fund now owns 16,726 shares of the company’s stock worth $2,063,000 after buying an additional 3,240 shares during the period. 87.34% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ SAFM opened at $114.99 on Wednesday. Sanderson Farms, Inc. has a 12 month low of $102.13 and a 12 month high of $179.45. The firm’s 50 day simple moving average is $114.76 and its 200-day simple moving average is $124.69. The company has a quick ratio of 1.71, a current ratio of 3.04 and a debt-to-equity ratio of 0.17.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $1.08. Sanderson Farms had a negative net margin of 0.06% and a negative return on equity of 2.65%. The business had revenue of $844.70 million for the quarter, compared to analysts’ expectations of $854.43 million. During the same quarter last year, the company earned $1.83 EPS. The business’s revenue was down .1% on a year-over-year basis. Equities analysts predict that Sanderson Farms, Inc. will post -3.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, July 28th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 27th. This represents a $1.28 dividend on an annualized basis and a yield of 1.11%. Sanderson Farms’s dividend payout ratio is currently 51.00%.

Several brokerages recently weighed in on SAFM. Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating and set a $151.00 price target on the stock. in a report on Monday, May 11th. Credit Suisse Group downgraded shares of Sanderson Farms from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $135.00 to $100.00 in a report on Wednesday, August 5th. Cfra cut their price target on shares of Sanderson Farms from $140.00 to $130.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Stephens increased their price target on shares of Sanderson Farms from $110.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, BidaskClub downgraded shares of Sanderson Farms from a “sell” rating to a “strong sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $142.25.

In related news, Director Phil K. Livingston sold 700 shares of Sanderson Farms stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $125.99, for a total value of $88,193.00. Following the sale, the director now owns 8,771 shares of the company’s stock, valued at approximately $1,105,058.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Bierbusse sold 1,500 shares of Sanderson Farms stock in a transaction on Friday, May 29th. The shares were sold at an average price of $132.30, for a total transaction of $198,450.00. Following the completion of the sale, the director now directly owns 11,801 shares in the company, valued at approximately $1,561,272.30. The disclosure for this sale can be found here. 5.38% of the stock is currently owned by company insiders.

About Sanderson Farms

Sanderson Farms, Inc, an integrated poultry processing company, produces, processes, markets, and distributes fresh, frozen, and prepared chicken products in the United States. The company sells ice-packed, chill-packed, bulk-packed, and frozen chicken primarily under the Sanderson Farms brand name to retailers, distributors, and casual dining operators in the southeastern, southwestern, northeastern, and western United States, as well as to customers who resell frozen chicken into export markets.

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

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