LSV Asset Management cut its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 95.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,200 shares of the company’s stock after selling 563,916 shares during the period. LSV Asset Management’s holdings in Sanderson Farms were worth $2,799,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of SAFM. Massachusetts Financial Services Co. MA raised its stake in shares of Sanderson Farms by 263.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 614,422 shares of the company’s stock valued at $63,513,000 after acquiring an additional 445,215 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Sanderson Farms by 43.5% during the third quarter. Victory Capital Management Inc. now owns 983,807 shares of the company’s stock valued at $101,696,000 after acquiring an additional 298,449 shares during the last quarter. Nuance Investments LLC raised its stake in shares of Sanderson Farms by 37.0% during the third quarter. Nuance Investments LLC now owns 1,070,399 shares of the company’s stock valued at $110,573,000 after acquiring an additional 288,873 shares during the last quarter. Investment Counselors of Maryland LLC bought a new position in shares of Sanderson Farms during the third quarter valued at about $16,272,000. Finally, Clearbridge Investments LLC bought a new position in shares of Sanderson Farms during the third quarter valued at about $13,606,000. 99.97% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jones Gail Pittman sold 300 shares of the stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $97.01, for a total value of $29,103.00. Following the completion of the transaction, the director now directly owns 16,403 shares of the company’s stock, valued at $1,591,255.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.55% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Sanderson Farms in a research note on Thursday, November 15th. BidaskClub downgraded shares of Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 5th. ValuEngine raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Mizuho raised shares of Sanderson Farms from a “neutral” rating to a “buy” rating and upped their price objective for the company from $101.00 to $130.00 in a research note on Monday, January 28th. Finally, Barclays lowered their price objective on shares of Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $100.44.
SAFM stock opened at $121.37 on Thursday. Sanderson Farms, Inc. has a 1 year low of $93.98 and a 1 year high of $136.50. The stock has a market capitalization of $2.65 billion, a P/E ratio of 40.19 and a beta of 0.79.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, December 20th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by ($0.54). Sanderson Farms had a return on equity of 2.10% and a net margin of 1.90%. The company had revenue of $798.00 million during the quarter, compared to the consensus estimate of $787.31 million. During the same period in the previous year, the company earned $3.20 earnings per share. Sanderson Farms’s quarterly revenue was down 13.3% on a year-over-year basis. On average, analysts anticipate that Sanderson Farms, Inc. will post 1 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 12th. Investors of record on Tuesday, January 29th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, January 28th. Sanderson Farms’s payout ratio is currently 42.38%.
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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-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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