Brandywine Global Investment Management LLC lessened its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,782 shares of the company’s stock after selling 7,433 shares during the quarter. Brandywine Global Investment Management LLC owned 0.35% of Sanderson Farms worth $10,934,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nationwide Fund Advisors grew its position in shares of Sanderson Farms by 167.2% in the 3rd quarter. Nationwide Fund Advisors now owns 53,064 shares of the company’s stock worth $8,571,000 after acquiring an additional 33,204 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Sanderson Farms in the 3rd quarter worth approximately $1,195,000. Jennison Associates LLC acquired a new position in shares of Sanderson Farms in the 3rd quarter worth approximately $1,327,000. BNP Paribas Arbitrage SA grew its position in shares of Sanderson Farms by 62.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 58,652 shares of the company’s stock worth $9,473,000 after acquiring an additional 22,452 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Sanderson Farms by 17.6% in the 3rd quarter. Sei Investments Co. now owns 7,125 shares of the company’s stock worth $1,151,000 after acquiring an additional 1,067 shares in the last quarter.
Shares of Sanderson Farms, Inc. (SAFM) opened at $122.43 on Wednesday. The stock has a market capitalization of $2,846.48, a P/E ratio of 9.09 and a beta of 0.49. Sanderson Farms, Inc. has a 1-year low of $92.37 and a 1-year high of $176.43.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Tuesday, January 30th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, January 29th. Sanderson Farms’s payout ratio is currently 9.50%.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded Sanderson Farms from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 7th. Barclays reiterated an “equal weight” rating and issued a $150.00 target price (up previously from $136.00) on shares of Sanderson Farms in a research report on Thursday, December 14th. BMO Capital Markets reissued a “hold” rating and issued a $140.00 price target on shares of Sanderson Farms in a report on Monday, December 18th. BidaskClub downgraded Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Buckingham Research started coverage on Sanderson Farms in a report on Wednesday, February 21st. They issued a “neutral” rating and a $122.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Sanderson Farms currently has a consensus rating of “Hold” and a consensus target price of $129.18.
In other Sanderson Farms news, Director Jones Gail Pittman sold 260 shares of Sanderson Farms stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.38, for a total value of $90,285.00. Following the sale, the director now directly owns 12,944 shares in the company, valued at approximately $1,558,198.72. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
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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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