abrdn plc Acquires Shares of 17,176 Sanderson Farms, Inc. (NASDAQ:SAFM)

abrdn plc acquired a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,176 shares of the company’s stock, valued at approximately $3,220,000. abrdn plc owned about 0.08% of Sanderson Farms at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Sanderson Farms by 214.8% in the 1st quarter. Parallel Advisors LLC now owns 1,936 shares of the company’s stock valued at $358,000 after acquiring an additional 1,321 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Sanderson Farms in the 4th quarter valued at about $270,000. Squarepoint Ops LLC acquired a new stake in Sanderson Farms in the 4th quarter valued at about $1,146,000. Calamos Advisors LLC raised its holdings in Sanderson Farms by 54.1% in the 4th quarter. Calamos Advisors LLC now owns 28,500 shares of the company’s stock valued at $5,446,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Ares Management LLC raised its holdings in Sanderson Farms by 17.5% in the 4th quarter. Ares Management LLC now owns 6,700 shares of the company’s stock valued at $1,280,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.

Sanderson Farms Stock Performance

NASDAQ:SAFM opened at $204.00 on Monday. The stock has a market capitalization of $4.55 billion, a P/E ratio of 5.28 and a beta of 0.56. The company has a 50 day moving average price of $207.23 and a 200 day moving average price of $192.52. Sanderson Farms, Inc. has a fifty-two week low of $175.82 and a fifty-two week high of $221.63.

Sanderson Farms (NASDAQ:SAFM – Get Rating) last posted its quarterly earnings data on Friday, May 27th. The company reported $14.39 earnings per share for the quarter, topping analysts’ consensus estimates of $6.81 by $7.58. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Sanderson Farms had a net margin of 15.34% and a return on equity of 43.58%. The firm’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the company posted $4.34 EPS. Research analysts forecast that Sanderson Farms, Inc. will post 46.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Consumer Edge downgraded shares of Sanderson Farms from an “overweight” rating to an “equal weight” rating in a report on Thursday, June 16th. Six investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sanderson Farms has a consensus rating of “Hold” and an average target price of $203.00.

Sanderson Farms Profile

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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.

Further Reading

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