New York State Teachers Retirement System continued to hold its stake in Sanderson Farms Inc. (NASDAQ:SAFM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,426 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Sanderson Farms were worth $4,022,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the company. CIBC World Markets Inc. acquired a new stake in Sanderson Farms during the second quarter valued at about $436,000. Lingohr & Partner Asset Management GmbH boosted its stake in Sanderson Farms by 3.6% in the second quarter. Lingohr & Partner Asset Management GmbH now owns 14,298 shares of the company’s stock valued at $1,239,000 after buying an additional 500 shares in the last quarter. Nordea Investment Management AB boosted its stake in Sanderson Farms by 62.5% in the second quarter. Nordea Investment Management AB now owns 21,080 shares of the company’s stock valued at $1,826,000 after buying an additional 8,105 shares in the last quarter. James Investment Research Inc. boosted its stake in Sanderson Farms by 65.9% in the second quarter. James Investment Research Inc. now owns 86,567 shares of the company’s stock valued at $7,500,000 after buying an additional 34,398 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in Sanderson Farms during the second quarter valued at about $710,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
Sanderson Farms Inc. (NASDAQ:SAFM) traded down 4.32% during midday trading on Friday, hitting $89.15. The stock had a trading volume of 1,438,621 shares. Sanderson Farms Inc. has a 12-month low of $64.54 and a 12-month high of $99.40. The firm has a 50-day moving average of $95.02 and a 200-day moving average of $89.93. The company has a market cap of $2.01 billion, a PE ratio of 14.30 and a beta of 0.33.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 25th. The company reported $2.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.31. The business earned $728 million during the quarter, compared to analysts’ expectations of $749.76 million. Sanderson Farms had a return on equity of 13.06% and a net margin of 5.19%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 EPS. Equities research analysts forecast that Sanderson Farms Inc. will post $7.38 EPS for the current year.
The business also recently disclosed a special dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Tuesday, October 4th will be issued a $1.00 dividend. This represents a dividend yield of 1.01%. The ex-dividend date is Friday, September 30th. This is a boost from Sanderson Farms’s previous special dividend of $0.50. Sanderson Farms’s payout ratio is 15.43%.
Several analysts recently issued reports on the company. DA Davidson assumed coverage on Sanderson Farms in a research report on Wednesday. They set a “neutral” rating and a $103.00 target price for the company. Zacks Investment Research upgraded Sanderson Farms from a “hold” rating to a “strong-buy” rating and set a $102.00 target price for the company in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $84.38.
In other news, Director John Bierbusse sold 750 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $97.00, for a total value of $72,750.00. Following the completion of the transaction, the director now owns 14,296 shares of the company’s stock, valued at approximately $1,386,712. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.45% of the stock is owned by insiders.
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 the preparation, processing, marketing and distribution of processed and prepared chicken items. 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 principally in the southeastern, southwestern, northeastern and western United States, and to customers reselling frozen chicken into export markets.