Dynamic Technology Lab Private Ltd Invests $516,000 in Sanderson Farms Inc. (SAFM)
Dynamic Technology Lab Private Ltd purchased a new position in Sanderson Farms Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,953 shares of the company’s stock, valued at approximately $516,000.
Several other institutional investors have also recently bought and sold shares of SAFM. Norges Bank bought a new position in shares of Sanderson Farms during the fourth quarter worth $21,953,000. Aperio Group LLC raised its position in shares of Sanderson Farms by 5.4% in the first quarter. Aperio Group LLC now owns 9,126 shares of the company’s stock worth $823,000 after buying an additional 469 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Sanderson Farms by 342.2% in the first quarter. Teachers Advisors Inc. now owns 144,507 shares of the company’s stock worth $13,032,000 after buying an additional 111,827 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Sanderson Farms by 1.1% in the first quarter. Prudential Financial Inc. now owns 60,993 shares of the company’s stock worth $5,501,000 after buying an additional 688 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Sanderson Farms by 120.2% in the first quarter. BlackRock Inc. now owns 1,546 shares of the company’s stock worth $140,000 after buying an additional 844 shares in the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.
Shares of Sanderson Farms Inc. (NASDAQ:SAFM) opened at 94.54 on Monday. The stock has a market cap of $2.13 billion, a P/E ratio of 15.16 and a beta of 0.05. The stock has a 50 day moving average of $91.38 and a 200 day moving average of $89.06. Sanderson Farms Inc. has a 52 week low of $64.54 and a 52 week high of $99.40.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Thursday, August 25th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.31. The firm earned $728 million during the quarter, compared to analyst estimates of $749.76 million. Sanderson Farms had a net margin of 5.19% and a return on equity of 13.06%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. On average, analysts expect that Sanderson Farms Inc. will post $7.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th were paid a $0.22 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.88 dividend on an annualized basis and a yield of 0.93%. Sanderson Farms’s dividend payout ratio is currently 14.15%.
A number of research firms recently issued reports on SAFM. Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a research note on Thursday, August 11th. JPMorgan Chase & Co. downgraded shares of Sanderson Farms from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $96.00 to $95.00 in a research note on Friday, May 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Sanderson Farms has a consensus rating of “Hold” and an average target price of $81.71.
In related news, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction on Friday, August 26th. The shares were sold at an average price of $97.00, for a total value of $72,750.00. Following the sale, the director now owns 14,296 shares of the company’s stock, valued at approximately $1,386,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.45% of the stock is currently owned by corporate insiders.
About Sanderson Farms
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and the preparation, processing, marketing and distribution of processed and prepared chicken items. 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 principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.
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