Sanderson Farms, Inc. (NASDAQ:SAFM) Shares Sold by IndexIQ Advisors LLC
IndexIQ Advisors LLC reduced its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,272 shares of the company’s stock after selling 1,529 shares during the period. IndexIQ Advisors LLC’s holdings in Sanderson Farms were worth $929,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of SAFM. Aigen Investment Management LP acquired a new position in shares of Sanderson Farms during the 4th quarter worth approximately $34,000. CWM LLC lifted its holdings in Sanderson Farms by 44.3% in the third quarter. CWM LLC now owns 446 shares of the company’s stock valued at $67,000 after acquiring an additional 137 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Sanderson Farms in the fourth quarter valued at approximately $202,000. Kwmg LLC acquired a new position in Sanderson Farms in the fourth quarter valued at approximately $212,000. Finally, Magnus Financial Group LLC acquired a new position in Sanderson Farms in the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 89.08% of the company’s stock.
A number of research analysts recently commented on SAFM shares. ValuEngine upgraded Sanderson Farms from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America upgraded Sanderson Farms from an “underperform” rating to a “buy” rating and upped their price objective for the company from $133.00 to $180.00 in a report on Thursday, November 14th. Barclays reiterated a “hold” rating and issued a $175.00 price objective (up from $145.00) on shares of Sanderson Farms in a report on Friday, December 20th. Credit Suisse Group started coverage on Sanderson Farms in a report on Friday, December 13th. They issued an “outperform” rating and a $197.00 price objective on the stock. Finally, Buckingham Research reiterated a “neutral” rating and issued a $160.00 price objective (down from $180.00) on shares of Sanderson Farms in a report on Tuesday, January 28th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $143.30.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Thursday, December 19th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.38. The company had revenue of $906.50 million for the quarter, compared to analyst estimates of $888.65 million. Sanderson Farms had a return on equity of 3.94% and a net margin of 1.55%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.63) earnings per share. Analysts anticipate that Sanderson Farms, Inc. will post 9.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Tuesday, January 28th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Monday, January 27th. Sanderson Farms’s payout ratio is 51.00%.
Sanderson Farms 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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