Alps Advisors Inc. lessened its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 45.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,076 shares of the company’s stock after selling 2,560 shares during the period. Alps Advisors Inc.’s holdings in Sanderson Farms were worth $497,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in Sanderson Farms by 6.9% during the second quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after buying an additional 62 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Sanderson Farms during the second quarter worth $125,000. PNC Financial Services Group Inc. raised its holdings in Sanderson Farms by 144.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock worth $130,000 after buying an additional 662 shares during the last quarter. Strs Ohio raised its holdings in Sanderson Farms by 180.0% during the second quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $161,000 after buying an additional 900 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its holdings in Sanderson Farms by 49.9% during the second quarter. Riverhead Capital Management LLC now owns 1,499 shares of the company’s stock worth $173,000 after buying an additional 499 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) opened at $162.35 on Friday. The company has a market cap of $3,692.49, a PE ratio of 13.08 and a beta of 0.56. Sanderson Farms, Inc. has a 1-year low of $74.07 and a 1-year high of $167.32.
Sanderson Farms (NASDAQ:SAFM) last posted its quarterly earnings results on Thursday, August 24th. The company reported $5.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.47 by $1.62. The company had revenue of $931.90 million during the quarter, compared to analyst estimates of $921.40 million. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. analysts expect that Sanderson Farms, Inc. will post 12.76 earnings per share for the current fiscal year.
In related news, Director Robert C. Khayat sold 1,775 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the completion of the transaction, the director now owns 12,043 shares in the company, valued at $1,713,839.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the transaction, the director now owns 24,948 shares of the company’s stock, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,400 shares of company stock valued at $771,199. 5.66% of the stock is owned by company insiders.
Several research analysts have weighed in on SAFM shares. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. J P Morgan Chase & Co downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $129.00 to $134.00 in a report on Friday, October 6th. BMO Capital Markets restated a “market perform” rating and set a $150.00 price objective (up previously from $130.00) on shares of Sanderson Farms in a report on Friday, August 25th. Zacks Investment Research downgraded shares of Sanderson Farms from a “buy” rating to a “sell” rating in a report on Thursday, October 26th. Finally, BidaskClub downgraded shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $132.00.
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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