Sanderson Farms, Inc. (NASDAQ:SAFM) Director Phil K. Livingston sold 500 shares of Sanderson Farms stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $107.14, for a total value of $53,570.00. Following the completion of the sale, the director now owns 9,682 shares in the company, valued at $1,037,329.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ SAFM traded down $2.57 during mid-day trading on Thursday, hitting $106.05. 13,093 shares of the stock traded hands, compared to its average volume of 463,743. Sanderson Farms, Inc. has a 52 week low of $95.97 and a 52 week high of $176.43. The firm has a market capitalization of $2.43 billion, a PE ratio of 8.67 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.67 by ($1.17). Sanderson Farms had a net margin of 5.29% and a return on equity of 9.41%. The firm had revenue of $852.40 million for the quarter, compared to the consensus estimate of $871.06 million. During the same quarter in the prior year, the firm earned $5.09 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. research analysts predict that Sanderson Farms, Inc. will post 4.3 EPS for the current year.
Sanderson Farms announced that its board has authorized a stock buyback plan on Thursday, May 31st that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, July 31st were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 30th. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. Sanderson Farms’s dividend payout ratio is presently 10.41%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in Sanderson Farms by 219.0% in the second quarter. Victory Capital Management Inc. now owns 685,358 shares of the company’s stock worth $72,065,000 after acquiring an additional 470,518 shares in the last quarter. Nuance Investments LLC boosted its holdings in Sanderson Farms by 130.0% in the second quarter. Nuance Investments LLC now owns 781,526 shares of the company’s stock worth $82,177,000 after acquiring an additional 441,770 shares in the last quarter. Millennium Management LLC boosted its holdings in Sanderson Farms by 118.7% in the second quarter. Millennium Management LLC now owns 478,423 shares of the company’s stock worth $50,306,000 after acquiring an additional 259,635 shares in the last quarter. Scopia Capital Management LP bought a new stake in Sanderson Farms in the first quarter worth $28,402,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Sanderson Farms by 2,249.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 169,207 shares of the company’s stock worth $17,792,000 after acquiring an additional 162,004 shares in the last quarter.
A number of equities research analysts have recently weighed in on the company. ValuEngine upgraded Sanderson Farms from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. Buckingham Research cut their price objective on Sanderson Farms from $104.00 to $97.00 and set a “hold” rating on the stock in a research report on Friday, May 25th. Zacks Investment Research lowered Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Saturday, May 19th. Finally, JPMorgan Chase & Co. cut their price objective on Sanderson Farms from $110.00 to $89.00 and set an “underweight” rating on the stock in a research report on Friday, June 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Sanderson Farms currently has a consensus rating of “Hold” and a consensus target price of $104.80.
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.
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