NN Investment Partners Holdings N.V. held its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,700 shares of the company’s stock at the end of the second quarter. NN Investment Partners Holdings N.V.’s holdings in Sanderson Farms were worth $544,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SAFM. Norges Bank acquired a new position in shares of Sanderson Farms during the fourth quarter worth about $21,881,000. Teachers Advisors LLC raised its stake in shares of Sanderson Farms by 1.9% in the fourth quarter. Teachers Advisors LLC now owns 34,741 shares of the company’s stock worth $3,274,000 after buying an additional 664 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Sanderson Farms by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the company’s stock worth $851,000 after buying an additional 200 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Sanderson Farms during the first quarter worth $210,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Sanderson Farms by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the company’s stock worth $229,000 after buying an additional 60 shares during the period.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at 139.90 on Friday. The stock has a market cap of $3.18 billion, a PE ratio of 14.36 and a beta of 0.62. The stock has a 50 day moving average of $123.49 and a 200 day moving average of $110.46. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $141.00.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, May 25th. The company reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.22. Sanderson Farms had a net margin of 7.34% and a return on equity of 18.30%. The firm had revenue of $802 million for the quarter, compared to analyst estimates of $769.47 million. During the same quarter last year, the firm earned $2.11 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts forecast that Sanderson Farms, Inc. will post $10.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. Sanderson Farms’s payout ratio is 9.86%.
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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $130.00 price target (up from $105.00) on shares of Sanderson Farms in a report on Friday, May 26th. Barclays PLC began coverage on shares of Sanderson Farms in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $125.00 price objective for the company. BidaskClub downgraded shares of Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC decreased their price objective on shares of Sanderson Farms from $120.00 to $85.00 and set an “underperform” rating for the company in a research report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Sanderson Farms presently has a consensus rating of “Buy” and an average price target of $119.44.
In other Sanderson Farms news, Director Dianne Mooney sold 1,103 shares of Sanderson Farms stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $117.69, for a total transaction of $129,812.07. Following the sale, the director now owns 13,072 shares in the company, valued at $1,538,443.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction on Friday, May 26th. The shares were sold at an average price of $121.50, for a total value of $60,750.00. Following the transaction, the director now directly owns 9,673 shares of the company’s stock, valued at $1,175,269.50. The disclosure for this sale can be found here. Company insiders own 5.66% of the company’s stock.
About Sanderson Farms
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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