KBC Group NV lowered its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,708 shares of the company’s stock after selling 799 shares during the period. KBC Group NV’s holdings in Sanderson Farms were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC boosted its holdings in Sanderson Farms by 44.4% during the second quarter. Shufro Rose & Co. LLC now owns 55,165 shares of the company’s stock worth $5,801,000 after buying an additional 16,965 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Sanderson Farms during the second quarter worth about $8,129,000. Foster & Motley Inc. boosted its holdings in Sanderson Farms by 37.8% during the second quarter. Foster & Motley Inc. now owns 7,470 shares of the company’s stock worth $785,000 after buying an additional 2,051 shares in the last quarter. Signature Financial Management Inc. purchased a new stake in Sanderson Farms during the first quarter worth about $423,000. Finally, Hancock Holding Co. boosted its holdings in Sanderson Farms by 1.8% during the first quarter. Hancock Holding Co. now owns 106,136 shares of the company’s stock worth $12,632,000 after buying an additional 1,875 shares in the last quarter.
SAFM has been the topic of a number of research analyst reports. Mizuho reissued a “hold” rating and set a $120.00 price objective on shares of Sanderson Farms in a report on Monday, April 23rd. ValuEngine downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. BidaskClub downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating in a report on Wednesday, May 16th. Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. Finally, BMO Capital Markets decreased their price objective on shares of Sanderson Farms from $125.00 to $95.00 and set a “market perform” rating on the stock in a report on Friday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Sanderson Farms currently has an average rating of “Hold” and a consensus target price of $116.22.
Shares of NASDAQ SAFM opened at $108.95 on Friday. Sanderson Farms, Inc. has a 12-month low of $95.97 and a 12-month high of $176.43. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 8.86 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Thursday, May 24th. The company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.67). Sanderson Farms had a net margin of 8.20% and a return on equity of 16.79%. The business had revenue of $813.50 million during the quarter, compared to analysts’ expectations of $839.64 million. During the same period last year, the company earned $2.94 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts expect that Sanderson Farms, Inc. will post 6.04 EPS for the current fiscal year.
Sanderson Farms announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 31st that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Shareholders of record on Tuesday, July 31st were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Monday, July 30th. Sanderson Farms’s dividend payout ratio (DPR) is presently 10.41%.
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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.
Further Reading: Earnings Per Share
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