UBS Asset Management Americas Inc. raised its holdings in Sanderson Farms, Inc. (NASDAQ:SAFM) by 129.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,418 shares of the company’s stock after buying an additional 15,469 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.12% of Sanderson Farms worth $3,805,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Nuance Investments LLC boosted its position in Sanderson Farms by 1.8% in the 4th quarter. Nuance Investments LLC now owns 26,128 shares of the company’s stock valued at $3,626,000 after buying an additional 472 shares during the period. ING Groep NV boosted its position in Sanderson Farms by 23.2% in the 4th quarter. ING Groep NV now owns 3,020 shares of the company’s stock valued at $419,000 after buying an additional 569 shares during the period. Virginia Retirement Systems ET AL boosted its position in Sanderson Farms by 4.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 15,600 shares of the company’s stock valued at $2,520,000 after buying an additional 600 shares during the period. Foster & Motley Inc. boosted its position in Sanderson Farms by 49.5% in the 4th quarter. Foster & Motley Inc. now owns 1,968 shares of the company’s stock valued at $273,000 after buying an additional 652 shares during the period. Finally, Swiss National Bank boosted its position in Sanderson Farms by 2.0% in the 4th quarter. Swiss National Bank now owns 34,900 shares of the company’s stock valued at $4,843,000 after buying an additional 700 shares during the period.
In related news, Director Jones Gail Pittman sold 260 shares of Sanderson Farms stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Bierbusse sold 750 shares of Sanderson Farms stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.38, for a total transaction of $90,285.00. Following the sale, the director now owns 12,944 shares in the company, valued at $1,558,198.72. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.71). Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The firm had revenue of $771.90 million during the quarter, compared to analyst estimates of $764.22 million. During the same quarter in the previous year, the business posted $1.02 earnings per share. Sanderson Farms’s revenue for the quarter was up 12.1% compared to the same quarter last year. research analysts forecast that Sanderson Farms, Inc. will post 9.38 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, January 30th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $1.28 annualized dividend and a yield of 1.05%. Sanderson Farms’s dividend payout ratio is currently 9.50%.
Several brokerages have commented on SAFM. Zacks Investment Research raised shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 8th. Vertical Group raised shares of Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. 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 research report on Tuesday, February 27th. Barclays restated an “equal weight” rating on shares of Sanderson Farms in a report on Monday, February 26th. Finally, BidaskClub lowered shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $129.18.
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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 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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