Hodges Capital Management Inc. lessened its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 57.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 43,306 shares of the company’s stock after selling 57,515 shares during the period. Hodges Capital Management Inc. owned 0.20% of Sanderson Farms worth $5,709,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in SAFM. Bank of New York Mellon Corp boosted 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 worth $39,441,000 after acquiring an additional 34,105 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Sanderson Farms by 101.0% in the third quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock worth $100,000 after acquiring an additional 491 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Sanderson Farms by 722.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock worth $178,000 after acquiring an additional 1,510 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sanderson Farms by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 155,297 shares of the company’s stock worth $16,052,000 after acquiring an additional 8,692 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in shares of Sanderson Farms by 26.6% in the third quarter. Riverhead Capital Management LLC now owns 2,383 shares of the company’s stock worth $246,000 after acquiring an additional 500 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.
In other Sanderson Farms news, insider Lampkin Butts sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $127.82, for a total transaction of $1,278,200.00. Following the sale, the insider now directly owns 121,611 shares in the company, valued at $15,544,318.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Bierbusse sold 677 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $113.94, for a total value of $77,137.38. Following the sale, the director now owns 12,675 shares in the company, valued at $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is currently owned by corporate insiders.
Shares of Sanderson Farms stock opened at $139.52 on Tuesday. Sanderson Farms, Inc. has a 12 month low of $93.98 and a 12 month high of $141.37. The company has a market cap of $3.09 billion, a P/E ratio of 46.20 and a beta of 0.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.82 and a quick ratio of 1.48.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($1.82) by $1.00. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The company had revenue of $743.40 million during the quarter, compared to analyst estimates of $705.25 million. During the same period in the prior year, the company earned $2.24 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Research analysts predict that Sanderson Farms, Inc. will post 2.6 earnings per share for the current year.
SAFM has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “sell” rating and issued a $77.00 price objective on shares of Sanderson Farms in a research note on Wednesday, December 19th. ValuEngine raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday. BidaskClub lowered Sanderson Farms from a “buy” rating to a “hold” rating in a research note on Monday, February 25th. Buckingham Research upped their price objective on Sanderson Farms from $115.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised Sanderson Farms from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $88.00 to $127.00 in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $116.25.
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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