Oregon Public Employees Retirement Fund Acquires Shares of 7,400 Sanderson Farms, Inc. (SAFM)
Oregon Public Employees Retirement Fund purchased a new stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,400 shares of the company’s stock, valued at approximately $1,195,000.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Sanderson Farms by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,903,103 shares of the company’s stock valued at $220,094,000 after buying an additional 98,236 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sanderson Farms by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,493,586 shares of the company’s stock valued at $172,735,000 after buying an additional 119,111 shares in the last quarter. LSV Asset Management lifted its position in shares of Sanderson Farms by 4.9% during the second quarter. LSV Asset Management now owns 1,130,321 shares of the company’s stock valued at $130,721,000 after purchasing an additional 53,200 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Sanderson Farms by 4.6% during the second quarter. Renaissance Technologies LLC now owns 1,057,600 shares of the company’s stock valued at $122,311,000 after purchasing an additional 46,600 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Sanderson Farms by 7.2% during the second quarter. State Street Corp now owns 543,962 shares of the company’s stock valued at $62,910,000 after purchasing an additional 36,489 shares in the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $150.00 price objective on shares of Sanderson Farms in a research report on Friday, October 13th. Mizuho set a $150.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Monday, October 16th. J P Morgan Chase & Co downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $129.00 to $134.00 in a research note on Friday, October 6th. Morgan Stanley assumed coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They set an “equal weight” rating and a $140.00 price objective for the company. Finally, Zacks Investment Research raised shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $132.00.
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Sanderson Farms, Inc. (NASDAQ:SAFM) opened at $162.92 on Wednesday. Sanderson Farms, Inc. has a one year low of $74.07 and a one year high of $166.65. The firm has a market cap of $3,655.03, a P/E ratio of 12.95 and a beta of 0.56.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. During the same quarter in the prior year, the business earned $2.42 EPS. The business’s quarterly revenue was up 28.0% on a year-over-year basis. equities analysts expect that Sanderson Farms, Inc. will post 12.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Monday, October 2nd. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.24. Sanderson Farms’s dividend payout ratio is 10.31%.
In other Sanderson Farms news, Director Robert C. Khayat sold 1,775 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now owns 12,043 shares in the company, valued at approximately $1,713,839.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Bierbusse sold 625 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $138.03, for a total transaction of $86,268.75. Following the sale, the director now owns 14,776 shares in the company, valued at approximately $2,039,531.28. The disclosure for this sale can be found here. Insiders sold a total of 5,400 shares of company stock worth $771,199 in the last quarter. Company insiders own 5.66% of the company’s stock.
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 also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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