Millennium Management LLC lifted its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 121.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,436 shares of the company’s stock after purchasing an additional 113,913 shares during the period. Millennium Management LLC owned about 0.09% of Sanderson Farms worth $2,836,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SAFM. Public Employees Retirement Association of Colorado bought a new stake in Sanderson Farms in the 4th quarter worth $257,000. Virtu Financial LLC bought a new stake in Sanderson Farms in the 4th quarter worth $260,000. Foster & Motley Inc. grew its holdings in Sanderson Farms by 49.5% in the 4th quarter. Foster & Motley Inc. now owns 1,968 shares of the company’s stock worth $273,000 after acquiring an additional 652 shares during the last quarter. ETRADE Capital Management LLC grew its holdings in Sanderson Farms by 26.9% in the 4th quarter. ETRADE Capital Management LLC now owns 1,967 shares of the company’s stock worth $273,000 after acquiring an additional 417 shares during the last quarter. Finally, Unison Advisors LLC bought a new stake in Sanderson Farms in the 4th quarter worth $379,000.
In other news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $120.38, for a total value of $90,285.00. Following the completion of the sale, the director now directly owns 12,944 shares of the company’s stock, valued at approximately $1,558,198.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.30% of the company’s stock.
Sanderson Farms (NASDAQ:SAFM) last posted its earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The company had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $764.22 million. During the same period in the prior year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts predict that Sanderson Farms, Inc. will post 9.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.28 annualized dividend and a dividend yield of 1.13%. Sanderson Farms’s dividend payout ratio is 10.41%.
A number of brokerages have issued reports on SAFM. Mizuho reissued a “hold” rating and issued a $120.00 price target on shares of Sanderson Farms in a report on Monday. Buckingham Research cut their price target on shares of Sanderson Farms from $111.00 to $104.00 and set a “hold” rating on the stock in a report on Wednesday, April 11th. Morgan Stanley reissued a “hold” rating and issued a $115.00 price target (down previously from $140.00) on shares of Sanderson Farms in a report on Tuesday, February 27th. Vertical Group raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Zacks Investment Research raised shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $125.33.
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 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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