Texas Permanent School Fund Acquires 86 Shares of Sanderson Farms, Inc. (SAFM)
Texas Permanent School Fund boosted its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 0.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,238 shares of the company’s stock after acquiring an additional 86 shares during the quarter. Texas Permanent School Fund’s holdings in Sanderson Farms were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Sanderson Farms by 1.1% in the fourth quarter. BlackRock Inc. now owns 2,314,543 shares of the company’s stock valued at $229,810,000 after buying an additional 26,282 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sanderson Farms by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,590 shares of the company’s stock valued at $168,157,000 after buying an additional 186,527 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sanderson Farms by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,005,595 shares of the company’s stock valued at $99,846,000 after buying an additional 21,788 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Sanderson Farms by 22.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 752,400 shares of the company’s stock valued at $74,705,000 after buying an additional 137,978 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Sanderson Farms in the fourth quarter valued at about $34,883,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.
NASDAQ:SAFM traded up $0.85 on Wednesday, hitting $147.66. 4,703 shares of the stock were exchanged, compared to its average volume of 431,864. The stock has a market capitalization of $3.25 billion, a P/E ratio of 49.42 and a beta of 0.83. Sanderson Farms, Inc. has a 52 week low of $93.98 and a 52 week high of $154.82. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.28 annualized dividend and a yield of 0.87%. Sanderson Farms’s dividend payout ratio is currently 42.38%.
A number of research firms recently issued reports on SAFM. BidaskClub raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Cleveland Research raised Sanderson Farms from a “neutral” rating to a “buy” rating in a report on Wednesday. Goldman Sachs Group raised Sanderson Farms from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $81.00 to $131.00 in a report on Tuesday, April 23rd. ValuEngine raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 13th. Finally, Buckingham Research boosted their price objective on Sanderson Farms from $115.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Sanderson Farms has an average rating of “Hold” and a consensus target price of $117.89.
In other news, Director John Bierbusse sold 677 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $113.94, for a total value of $77,137.38. Following the completion of the sale, the director now directly owns 12,675 shares of the company’s stock, valued at approximately $1,444,189.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lampkin Butts sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $127.82, for a total value of $1,278,200.00. Following the completion of the sale, the insider now directly owns 121,611 shares of the company’s stock, valued at $15,544,318.02. The disclosure for this sale can be found here. Insiders own 5.55% of the company’s stock.
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Sanderson Farms Company Profile
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-packed, chill-packed, bulk-packed, and frozen chicken 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 into export markets.
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