Virginia Retirement Systems ET AL lowered its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 46.6% during the second quarter, HoldingsChannel reports. The firm owned 9,300 shares of the company’s stock after selling 8,100 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Sanderson Farms were worth $978,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SAFM. Raymond James & Associates bought a new stake in shares of Sanderson Farms during the 4th quarter worth approximately $505,000. Millennium Management LLC raised its stake in Sanderson Farms by 121.9% in the 4th quarter. Millennium Management LLC now owns 20,436 shares of the company’s stock valued at $2,836,000 after acquiring an additional 113,913 shares during the period. Hennessy Advisors Inc. raised its stake in Sanderson Farms by 3.9% in the 1st quarter. Hennessy Advisors Inc. now owns 206,900 shares of the company’s stock valued at $24,625,000 after acquiring an additional 7,700 shares during the period. Wells Fargo & Company MN raised its stake in Sanderson Farms by 6.6% in the 1st quarter. Wells Fargo & Company MN now owns 341,435 shares of the company’s stock valued at $40,637,000 after acquiring an additional 21,270 shares during the period. Finally, Alps Advisors Inc. raised its stake in Sanderson Farms by 27.7% in the 1st quarter. Alps Advisors Inc. now owns 3,927 shares of the company’s stock valued at $467,000 after acquiring an additional 851 shares during the period.
Shares of NASDAQ SAFM opened at $108.95 on Monday. Sanderson Farms, Inc. has a one year low of $95.97 and a one year high of $176.43. The firm 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 issued its quarterly earnings data on Thursday, May 24th. The company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.67). Sanderson Farms had a net margin of 8.20% and a return on equity of 16.79%. The firm had revenue of $813.50 million during the quarter, compared to analyst estimates of $839.64 million. During the same period in the prior year, the company earned $2.94 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. equities research analysts predict that Sanderson Farms, Inc. will post 6.04 earnings per share for the current year.
Sanderson Farms declared that its Board of Directors has approved a share repurchase plan on Thursday, May 31st that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, July 30th. Sanderson Farms’s dividend payout ratio is 10.41%.
SAFM has been the topic of a number of research analyst reports. Mizuho restated a “hold” rating and issued a $120.00 price target on shares of Sanderson Farms in a research note on Monday, April 23rd. Zacks Investment Research cut Sanderson Farms from a “hold” rating to a “sell” rating in a research note on Saturday, May 19th. BidaskClub cut Sanderson Farms from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. ValuEngine cut Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, BMO Capital Markets dropped their price target on Sanderson Farms from $125.00 to $95.00 and set a “market perform” rating on the stock in a research note on Friday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $116.22.
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 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.
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