Gotham Asset Management LLC decreased its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 79.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,126 shares of the company’s stock after selling 58,918 shares during the period. Gotham Asset Management LLC owned approximately 0.07% of Sanderson Farms worth $1,571,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new position in shares of Sanderson Farms during the first quarter valued at $179,000. Affinity Investment Advisors LLC acquired a new position in shares of Sanderson Farms during the first quarter valued at $209,000. Everence Capital Management Inc. acquired a new position in shares of Sanderson Farms during the first quarter valued at $210,000. Parkwood LLC acquired a new position in shares of Sanderson Farms during the first quarter valued at $226,000. Finally, State of Alaska Department of Revenue boosted its position 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 valued at $229,000 after buying an additional 60 shares in the last quarter.
Sanderson Farms, Inc. (SAFM) traded up 0.05% during midday trading on Friday, hitting $128.14. The stock had a trading volume of 221,785 shares. Sanderson Farms, Inc. has a 52 week low of $74.07 and a 52 week high of $129.50. The company has a 50-day moving average price of $121.04 and a 200-day moving average price of $107.53. The stock has a market cap of $2.91 billion, a P/E ratio of 13.15 and a beta of 0.59.
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, topping the Thomson Reuters’ consensus estimate of $2.72 by $0.22. Sanderson Farms had a return on equity of 18.30% and a net margin of 7.34%. The company had revenue of $802 million for the quarter, compared to analysts’ expectations of $769.47 million. During the same period in the previous year, the firm posted $2.11 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts expect that Sanderson Farms, Inc. will post $10.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.75%. Sanderson Farms’s dividend payout ratio is 9.86%.
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Several equities research analysts have recently commented on the company. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Thursday. BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. BMO Capital Markets reissued a “hold” rating and issued a $130.00 price objective on shares of Sanderson Farms in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “sell” rating and issued a $85.00 price objective on shares of Sanderson Farms in a report on Friday, June 9th. Finally, Mizuho assumed coverage on Sanderson Farms in a report on Wednesday, June 7th. They issued a “buy” rating and a $142.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $119.44.
In related news, Director Dianne Mooney sold 1,103 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $117.69, for a total value of $129,812.07. Following the transaction, the director now owns 13,072 shares of the company’s stock, valued at $1,538,443.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Phil K. Livingston sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $121.50, for a total value of $60,750.00. Following the completion of the transaction, the director now directly owns 9,673 shares in the company, valued at approximately $1,175,269.50. The disclosure for this sale can be found here. Corporate insiders own 5.66% of the company’s stock.
Sanderson Farms Company 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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