Sanderson Farms, Inc. (NASDAQ:SAFM) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 34.0% in the second quarter, HoldingsChannel reports. The firm owned 240,652 shares of the company’s stock after buying an additional 60,999 shares during the quarter. Van ECK Associates Corp’s holdings in Sanderson Farms were worth $45,235,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SAFM. Millennium Management LLC grew its holdings in shares of Sanderson Farms by 2,384.5% in the first quarter. Millennium Management LLC now owns 170,360 shares of the company’s stock valued at $26,539,000 after purchasing an additional 163,503 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Sanderson Farms by 188.7% in the first quarter. Nuveen Asset Management LLC now owns 239,910 shares of the company’s stock valued at $37,374,000 after purchasing an additional 156,805 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Sanderson Farms by 5.7% in the first quarter. BlackRock Inc. now owns 2,319,289 shares of the company’s stock valued at $361,298,000 after purchasing an additional 124,846 shares in the last quarter. Nuance Investments LLC grew its holdings in shares of Sanderson Farms by 3.7% in the second quarter. Nuance Investments LLC now owns 1,806,704 shares of the company’s stock valued at $339,606,000 after purchasing an additional 64,058 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in shares of Sanderson Farms by 2,198.2% in the first quarter. Panagora Asset Management Inc. now owns 49,366 shares of the company’s stock valued at $7,690,000 after purchasing an additional 47,218 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Several research analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Sanderson Farms from $180.00 to $203.00 and gave the stock a “neutral” rating in a report on Wednesday, August 18th. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Wednesday, July 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 price target on shares of Sanderson Farms in a report on Tuesday, August 10th. Barclays boosted their price target on shares of Sanderson Farms from $175.00 to $203.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 24th. Finally, Stephens boosted their price objective on shares of Sanderson Farms from $190.00 to $203.00 and gave the stock an “equal weight” rating in a research report on Friday, August 27th. Six investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $195.00.

SAFM stock opened at $187.50 on Wednesday. The company has a fifty day moving average price of $188.78 and a 200 day moving average price of $174.43. Sanderson Farms, Inc. has a 12 month low of $112.73 and a 12 month high of $197.25. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 13.99 and a beta of 0.69.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Wednesday, August 25th. The company reported $7.38 EPS for the quarter, beating the consensus estimate of $6.73 by $0.65. Sanderson Farms had a net margin of 6.90% and a return on equity of 19.68%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Sanderson Farms’s revenue for the quarter was up 41.4% on a year-over-year basis. As a group, research analysts anticipate that Sanderson Farms, Inc. will post 17.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 17th. Investors of record on Tuesday, August 3rd were given a $0.44 dividend. The ex-dividend date was Monday, August 2nd. This represents a $1.76 annualized dividend and a yield of 0.94%. Sanderson Farms’s dividend payout ratio (DPR) is -429.27%.

About Sanderson Farms

Sanderson Farms, Inc is a poultry processing company, which engages in the production, processing, marketing, and distribution of fresh, frozen, further processed, and partially cooked chicken products. It operates through the following divisions: Production, Processing, and Foods. The Production division refers to the production of chickens to the broiler stage.

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

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