Piermont Capital Management Inc. increased its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 22.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,860 shares of the company’s stock after purchasing an additional 4,660 shares during the period. Piermont Capital Management Inc. owned 0.11% of Sanderson Farms worth $2,673,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAFM. Rehmann Capital Advisory Group raised its position in shares of Sanderson Farms by 5,238.1% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,121 shares of the company’s stock worth $118,000 after purchasing an additional 1,100 shares during the last quarter. Sun Life Financial INC acquired a new position in shares of Sanderson Farms during the 2nd quarter worth about $127,000. Parallel Advisors LLC raised its position in shares of Sanderson Farms by 89.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,258 shares of the company’s stock worth $132,000 after purchasing an additional 593 shares during the last quarter. Sei Investments Co. raised its position in shares of Sanderson Farms by 346.3% during the 2nd quarter. Sei Investments Co. now owns 1,589 shares of the company’s stock worth $167,000 after purchasing an additional 1,233 shares during the last quarter. Finally, Trilogy Capital Inc. acquired a new position in shares of Sanderson Farms during the 2nd quarter worth about $180,000. Hedge funds and other institutional investors own 99.95% of the company’s stock.
In other Sanderson Farms news, Director John Bierbusse sold 875 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $109.94, for a total value of $96,197.50. Following the completion of the sale, the director now owns 12,086 shares in the company, valued at approximately $1,328,734.84. The transaction was disclosed in a legal 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 that occurred on Monday, August 27th. The shares were sold at an average price of $107.14, for a total transaction of $53,570.00. Following the completion of the sale, the director now directly owns 9,682 shares of the company’s stock, 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.
SAFM stock opened at $104.09 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 16.95 and a beta of 0.38. Sanderson Farms, Inc. has a 12 month low of $95.97 and a 12 month high of $176.43.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 23rd. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.67 by ($1.17). The business had revenue of $852.40 million during the quarter, compared to analyst estimates of $871.06 million. Sanderson Farms had a net margin of 5.29% and a return on equity of 9.41%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.09 EPS. Equities research analysts expect that Sanderson Farms, Inc. will post 2.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Shareholders of record on Tuesday, October 2nd were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, October 1st. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. Sanderson Farms’s payout ratio is 10.41%.
Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 6th. ValuEngine upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Mizuho set a $105.00 price target on shares of Sanderson Farms and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Buckingham Research set a $95.00 price target on shares of Sanderson Farms and gave the stock a “hold” rating in a research report on Wednesday, July 25th. Finally, Stephens upgraded shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research report on Friday, August 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $98.22.
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Sanderson Farms Company 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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