Howe & Rusling Inc. lowered its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,387 shares of the company’s stock after selling 370 shares during the quarter. Howe & Rusling Inc.’s holdings in Sanderson Farms were worth $237,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia acquired a new position in shares of Sanderson Farms in the third quarter valued at approximately $682,000. Stone Ridge Asset Management LLC increased its stake in shares of Sanderson Farms by 19.8% in the third quarter. Stone Ridge Asset Management LLC now owns 8,959 shares of the company’s stock valued at $926,000 after buying an additional 1,478 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Sanderson Farms by 50.0% in the third quarter. Hodges Capital Management Inc. now owns 115,954 shares of the company’s stock valued at $11,986,000 after buying an additional 38,645 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Sanderson Farms by 20,261.4% in the third quarter. Panagora Asset Management Inc. now owns 14,253 shares of the company’s stock valued at $1,473,000 after buying an additional 14,183 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Sanderson Farms by 9.8% in the third quarter. Bank of New York Mellon Corp now owns 381,553 shares of the company’s stock valued at $39,441,000 after buying an additional 34,105 shares during the period. 98.08% of the stock is owned by institutional investors.
A number of research firms have weighed in on SAFM. BidaskClub downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Sanderson Farms from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Mizuho raised shares of Sanderson Farms from a “neutral” rating to a “buy” rating and increased their target price for the company from $101.00 to $130.00 in a research report on Monday, January 28th. Jefferies Financial Group reissued a “sell” rating and set a $77.00 target price on shares of Sanderson Farms in a research report on Wednesday, December 19th. Finally, ValuEngine raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.44.
In other news, Director Jones Gail Pittman sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 26th. The shares were sold at an average price of $97.01, for a total transaction of $29,103.00. Following the completion of the sale, the director now owns 16,403 shares of the company’s stock, valued at approximately $1,591,255.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.55% of the company’s stock.
NASDAQ:SAFM opened at $119.60 on Friday. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 39.60 and a beta of 0.79. Sanderson Farms, Inc. has a fifty-two week low of $93.98 and a fifty-two week high of $136.50.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Thursday, December 20th. The company reported ($1.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.54). The firm had revenue of $798.00 million for the quarter, compared to analyst estimates of $787.31 million. Sanderson Farms had a net margin of 1.90% and a return on equity of 2.10%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.20 EPS. Equities research analysts forecast that Sanderson Farms, Inc. will post -0.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 12th. Stockholders of record on Tuesday, January 29th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, January 28th. Sanderson Farms’s dividend payout ratio (DPR) is 42.38%.
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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.
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