APG Asset Management N.V. bought a new position in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 176,000 shares of the company’s stock, valued at approximately $28,428,000. APG Asset Management N.V. owned approximately 0.77% of Sanderson Farms as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Foster & Motley Inc. bought a new stake in Sanderson Farms during the 3rd quarter worth approximately $213,000. LS Investment Advisors LLC increased its stake in Sanderson Farms by 98.4% during the 3rd quarter. LS Investment Advisors LLC now owns 1,504 shares of the company’s stock worth $243,000 after purchasing an additional 746 shares in the last quarter. State Treasurer State of Michigan bought a new stake in Sanderson Farms during the 3rd quarter worth approximately $1,195,000. Robeco Institutional Asset Management B.V. increased its stake in Sanderson Farms by 77.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 364,262 shares of the company’s stock worth $58,837,000 after purchasing an additional 159,179 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new position in shares of Sanderson Farms during the 3rd quarter worth approximately $2,630,000. 99.95% of the stock is owned by institutional investors and hedge funds.
Sanderson Farms, Inc. (SAFM) traded up $2.19 during midday trading on Tuesday, hitting $160.70. The stock had a trading volume of 387,100 shares, compared to its average volume of 444,327. The firm has a market cap of $3,605.22, a P/E ratio of 12.77 and a beta of 0.56. Sanderson Farms, Inc. has a 12 month low of $74.07 and a 12 month high of $166.65.
Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings data on Thursday, August 24th. The company reported $5.09 EPS for the quarter, beating the consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. Sanderson Farms had a return on equity of 22.21% and a net margin of 8.77%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. analysts expect that Sanderson Farms, Inc. will post 12.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Monday, October 2nd. This is an increase from Sanderson Farms’s previous quarterly dividend of $0.24. Sanderson Farms’s dividend payout ratio is presently 10.31%.
Several brokerages have recently weighed in on SAFM. Morgan Stanley began 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 target for the company. KeyCorp began coverage on shares of Sanderson Farms in a research note on Tuesday, October 31st. They set a “sector weight” rating for the company. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “sell” rating in a research note on Thursday, October 26th. Mizuho set a $150.00 price target on shares of Sanderson Farms and gave the stock a “hold” rating in a research note on Monday, October 16th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $150.00 price target on shares of Sanderson Farms in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $132.00.
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In other Sanderson Farms news, Director John Bierbusse sold 625 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 14,776 shares of the company’s stock, valued at approximately $2,039,531.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total value of $432,330.00. Following the sale, the director now directly owns 24,948 shares of the company’s stock, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last three months, insiders sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is currently owned by insiders.
Sanderson Farms Profile
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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