Itau Unibanco Holding S.A. increased its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 1,256.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,336 shares of the company’s stock after purchasing an additional 3,090 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Sanderson Farms were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Shufro Rose & Co. LLC lifted its holdings in shares of Sanderson Farms by 44.4% during the second quarter. Shufro Rose & Co. LLC now owns 55,165 shares of the company’s stock valued at $5,801,000 after purchasing an additional 16,965 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in shares of Sanderson Farms by 9.1% during the second quarter. Montag A & Associates Inc. now owns 6,000 shares of the company’s stock valued at $631,000 after purchasing an additional 500 shares in the last quarter. Kwmg LLC lifted its holdings in shares of Sanderson Farms by 6.8% during the second quarter. Kwmg LLC now owns 19,410 shares of the company’s stock valued at $2,041,000 after purchasing an additional 1,235 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Sanderson Farms during the second quarter valued at $6,068,000. Finally, Dean Investment Associates LLC bought a new position in shares of Sanderson Farms during the second quarter valued at $3,688,000.
SAFM stock opened at $107.70 on Wednesday. Sanderson Farms, Inc. has a fifty-two week low of $95.97 and a fifty-two week high of $176.43. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 8.76 and a beta of 0.28.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $871.06 million. During the same period in the prior year, the company posted $5.09 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. equities research analysts forecast that Sanderson Farms, Inc. will post 3.52 EPS for the current year.
Sanderson Farms declared that its board has authorized 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently announced 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 1.19%. The ex-dividend date was Monday, July 30th. Sanderson Farms’s dividend payout ratio is 10.41%.
In other Sanderson Farms news, Director John Bierbusse sold 875 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $109.94, for a total value of $96,197.50. Following the transaction, the director now owns 12,086 shares of the company’s stock, valued at $1,328,734.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Phil K. Livingston sold 500 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $107.14, for a total value of $53,570.00. Following the completion of the transaction, the director now directly owns 9,682 shares in the company, valued at approximately $1,037,329.48. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded Sanderson Farms from a “hold” rating to a “sell” rating in a report on Wednesday, May 16th. ValuEngine downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Zacks Investment Research downgraded Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. Stephens raised Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Friday, August 24th. Finally, TheStreet downgraded Sanderson Farms from a “b” rating to a “c+” rating in a report on Wednesday, August 29th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target 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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