Crossmark Global Holdings Inc. cut its position in Sanderson Farms, Inc. (NASDAQ:SAFM) by 6.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,099 shares of the company’s stock after selling 150 shares during the period. Crossmark Global Holdings Inc.’s holdings in Sanderson Farms were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the company. Nuance Investments LLC boosted its stake in shares of Sanderson Farms by 51.6% in the second quarter. Nuance Investments LLC now owns 1,431,679 shares of the company’s stock worth $165,917,000 after acquiring an additional 487,389 shares during the last quarter. State Street Corp boosted its stake in Sanderson Farms by 5.1% during the first quarter. State Street Corp now owns 909,714 shares of the company’s stock worth $112,186,000 after buying an additional 43,780 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Sanderson Farms by 3.5% during the second quarter. Victory Capital Management Inc. now owns 827,846 shares of the company’s stock worth $95,939,000 after buying an additional 28,302 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Sanderson Farms by 8.7% during the first quarter. Clearbridge Investments LLC now owns 404,257 shares of the company’s stock worth $49,853,000 after buying an additional 32,274 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Sanderson Farms by 6.0% during the first quarter. Geode Capital Management LLC now owns 294,679 shares of the company’s stock worth $36,339,000 after buying an additional 16,775 shares during the last quarter. 85.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on SAFM shares. Credit Suisse Group boosted their price objective on Sanderson Farms from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. BidaskClub raised Sanderson Farms from a “sell” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets lowered their price objective on Sanderson Farms from $180.00 to $150.00 and set a “market perform” rating on the stock in a research note on Friday, August 28th. Seaport Global Securities began coverage on Sanderson Farms in a research note on Tuesday, September 8th. They set a “neutral” rating on the stock. Finally, Goldman Sachs Group raised Sanderson Farms from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.00 to $139.00 in a research note on Thursday, September 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Sanderson Farms currently has a consensus rating of “Hold” and an average price target of $144.30.
SAFM opened at $125.36 on Friday. Sanderson Farms, Inc. has a one year low of $102.13 and a one year high of $179.45. The company has a market cap of $2.79 billion, a P/E ratio of -119.39 and a beta of 0.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.48 and a current ratio of 2.79. The business’s 50-day simple moving average is $121.15 and its 200-day simple moving average is $122.52.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, August 27th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $1.41. The firm had revenue of $956.50 million during the quarter, compared to analysts’ expectations of $933.50 million. Sanderson Farms had a negative return on equity of 4.15% and a negative net margin of 0.64%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. As a group, analysts predict that Sanderson Farms, Inc. will post -1.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Tuesday, October 6th will be given a $0.44 dividend. The ex-dividend date is Monday, October 5th. This is a boost from Sanderson Farms’s previous quarterly dividend of $0.32. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.40%. Sanderson Farms’s dividend payout ratio is 70.12%.
In related news, Director John Bierbusse sold 3,000 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $120.69, for a total value of $362,070.00. 5.38% of the stock is owned by corporate insiders.
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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