Prudential Financial Inc. Raises Holdings in Sanderson Farms, Inc. (NASDAQ:SAFM)

Prudential Financial Inc. raised its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,467 shares of the company’s stock after purchasing an additional 185 shares during the period. Prudential Financial Inc. owned approximately 0.06% of Sanderson Farms worth $1,839,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clearbridge Investments LLC lifted its holdings in shares of Sanderson Farms by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 547,349 shares of the company’s stock valued at $72,163,000 after buying an additional 4,266 shares during the period. Artemis Investment Management LLP bought a new position in shares of Sanderson Farms during the 2nd quarter valued at $36,474,000. Geode Capital Management LLC lifted its holdings in shares of Sanderson Farms by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 236,930 shares of the company’s stock valued at $23,524,000 after buying an additional 18,291 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Sanderson Farms by 152.9% during the 1st quarter. JPMorgan Chase & Co. now owns 152,031 shares of the company’s stock valued at $20,044,000 after buying an additional 91,926 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Sanderson Farms by 88.4% during the 2nd quarter. Wells Fargo & Company MN now owns 91,087 shares of the company’s stock valued at $12,438,000 after buying an additional 42,733 shares during the period. Institutional investors and hedge funds own 92.04% of the company’s stock.

Shares of Sanderson Farms stock traded up $0.99 during trading on Thursday, reaching $155.59. 3,684 shares of the stock traded hands, compared to its average volume of 351,869. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 51.48 and a beta of 0.73. The business has a fifty day simple moving average of $144.57 and a two-hundred day simple moving average of $139.25. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.94 and a quick ratio of 1.41. Sanderson Farms, Inc. has a 52-week low of $93.98 and a 52-week high of $158.32.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 29th. The company reported $2.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.43). The company had revenue of $945.10 million during the quarter, compared to analysts’ expectations of $970.10 million. Sanderson Farms had a return on equity of 2.86% and a net margin of 0.99%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. On average, research analysts predict that Sanderson Farms, Inc. will post 4.86 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the company. TheStreet raised Sanderson Farms from a “c+” rating to a “b” rating in a report on Friday, June 7th. Zacks Investment Research raised Sanderson Farms from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a report on Tuesday, August 6th. ValuEngine cut Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th. Barclays set a $145.00 target price on Sanderson Farms and gave the stock a “hold” rating in a report on Friday, May 31st. Finally, BidaskClub raised Sanderson Farms from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $126.00.

In other Sanderson Farms news, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $153.86, for a total value of $76,930.00. Following the completion of the sale, the director now owns 10,366 shares of the company’s stock, valued at $1,594,912.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.55% of the stock is owned by company insiders.

Sanderson Farms Profile

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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

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