Dean Capital Management Purchases New Position in Sanderson Farms, Inc. (SAFM)
Dean Capital Management purchased a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 15,680 shares of the company’s stock, valued at approximately $1,649,000. Dean Capital Management owned approximately 0.07% of Sanderson Farms at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of Sanderson Farms by 118.7% in the 2nd quarter. Millennium Management LLC now owns 478,423 shares of the company’s stock valued at $50,306,000 after purchasing an additional 259,635 shares in the last quarter. MetLife Investment Advisors LLC raised its holdings in Sanderson Farms by 4.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 21,992 shares of the company’s stock valued at $2,312,000 after buying an additional 850 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in Sanderson Farms by 254.2% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 86,392 shares of the company’s stock valued at $9,084,000 after buying an additional 62,000 shares during the last quarter. Marshall Wace LLP bought a new position in Sanderson Farms in the 2nd quarter valued at approximately $4,363,000. Finally, Bank of America Corp DE raised its holdings in Sanderson Farms by 25.6% in the 2nd quarter. Bank of America Corp DE now owns 58,103 shares of the company’s stock valued at $6,110,000 after buying an additional 11,843 shares during the last quarter.
Sanderson Farms stock opened at $104.37 on Friday. Sanderson Farms, Inc. has a 52-week low of $95.97 and a 52-week high of $176.43. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 8.49 and a beta of 0.28.
Sanderson Farms declared that its board has initiated a stock repurchase program on Thursday, May 31st that permits the company to buyback 2,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Sanderson Farms news, Director John Bierbusse sold 875 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $109.94, for a total transaction of $96,197.50. Following the completion of the transaction, the director now owns 12,086 shares in the company, valued at approximately $1,328,734.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $107.14, for a total transaction of $53,570.00. Following the transaction, the director now 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 company insiders.
A number of research analysts recently issued reports on SAFM shares. Jefferies Financial Group reiterated a “sell” rating and issued a $77.00 price objective on shares of Sanderson Farms in a report on Thursday, August 23rd. BidaskClub upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. TheStreet lowered shares of Sanderson Farms from a “b” rating to a “c+” rating in a report on Wednesday, August 29th. Stephens upgraded shares of Sanderson Farms from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a report on Friday, August 24th. Finally, Zacks Investment Research lowered shares of Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $104.80.
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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