Moors & Cabot Inc. purchased a new position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) during the first quarter, HoldingsChannel reports. The fund purchased 1,600 shares of the company’s stock, valued at approximately $211,000.
Other large investors have also modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in Sanderson Farms by 5.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,097 shares of the company’s stock worth $506,000 after purchasing an additional 248 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Sanderson Farms by 22.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock worth $74,705,000 after purchasing an additional 137,978 shares during the period. Van ECK Associates Corp increased its stake in Sanderson Farms by 2.6% during the fourth quarter. Van ECK Associates Corp now owns 38,856 shares of the company’s stock worth $3,858,000 after purchasing an additional 970 shares during the period. Norges Bank purchased a new stake in Sanderson Farms during the fourth quarter worth about $34,883,000. Finally, Legal & General Group Plc increased its stake in shares of Sanderson Farms by 9.3% during the fourth quarter. Legal & General Group Plc now owns 27,583 shares of the company’s stock worth $2,738,000 after buying an additional 2,352 shares during the period. Institutional investors own 95.44% of the company’s stock.
A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 30th. Cleveland Research upgraded shares of Sanderson Farms from a “neutral” rating to a “buy” rating in a research note on Wednesday. Goldman Sachs Group upgraded shares of Sanderson Farms from a “sell” rating to a “neutral” rating and upped their target price for the stock from $81.00 to $131.00 in a research note on Tuesday, April 23rd. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 13th. Finally, Buckingham Research upped their target price on shares of Sanderson Farms from $115.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $117.89.
SAFM stock opened at $149.00 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.48 and a current ratio of 2.82. Sanderson Farms, Inc. has a fifty-two week low of $93.98 and a fifty-two week high of $154.82. The company has a market cap of $3.30 billion, a P/E ratio of 49.34 and a beta of 0.83.
Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.82) by $1.00. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. The firm had revenue of $743.40 million for the quarter, compared to analyst estimates of $705.25 million. During the same period in the prior year, the firm earned $2.24 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts anticipate that Sanderson Farms, Inc. will post 3.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.28 annualized dividend and a yield of 0.86%. Sanderson Farms’s dividend payout ratio is currently 42.38%.
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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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