CoreCommodity Management LLC Has $1.13 Million Position in Sanderson Farms, Inc. (SAFM)
CoreCommodity Management LLC lowered its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 57.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,414 shares of the company’s stock after selling 15,508 shares during the quarter. CoreCommodity Management LLC’s holdings in Sanderson Farms were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. We Are One Seven LLC boosted its position in Sanderson Farms by 5.3% during the 4th quarter. We Are One Seven LLC now owns 2,942 shares of the company’s stock valued at $292,000 after purchasing an additional 149 shares during the period. Arizona State Retirement System boosted its position in Sanderson Farms by 1.1% during the 4th quarter. Arizona State Retirement System now owns 14,425 shares of the company’s stock worth $1,432,000 after acquiring an additional 155 shares during the period. Formidable Asset Management LLC lifted its holdings in shares of Sanderson Farms by 1.6% in the fourth quarter. Formidable Asset Management LLC now owns 10,773 shares of the company’s stock valued at $1,070,000 after buying an additional 167 shares during the period. Advisor Group Inc. lifted its holdings in shares of Sanderson Farms by 33.0% in the fourth quarter. Advisor Group Inc. now owns 874 shares of the company’s stock valued at $86,000 after buying an additional 217 shares during the period. Finally, Shufro Rose & Co. LLC lifted its holdings in shares of Sanderson Farms by 0.5% in the fourth quarter. Shufro Rose & Co. LLC now owns 57,888 shares of the company’s stock valued at $5,748,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.
Several analysts have recently weighed in on SAFM shares. BidaskClub lowered Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 9th. Mizuho raised Sanderson Farms from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $101.00 to $130.00 in a research report on Monday, January 28th. ValuEngine downgraded Sanderson Farms from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Barclays decreased their price target on Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 18th. Finally, Stephens started coverage on Sanderson Farms in a research note on Monday, March 4th. They set an “equal weight” rating and a $130.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Sanderson Farms has an average rating of “Hold” and an average target price of $113.38.
Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($2.41) by $1.59. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The firm had revenue of $743.40 million during the quarter, compared to the consensus estimate of $705.25 million. During the same quarter in the prior year, the company earned $2.24 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Sanderson Farms, Inc. will post 1.23 earnings per share for the current fiscal year.
In other news, Director Jones Gail Pittman sold 300 shares of the stock in a transaction that occurred on Wednesday, December 26th. The stock was sold at an average price of $97.01, for a total value of $29,103.00. Following the completion of the transaction, the director now directly owns 16,403 shares of the company’s stock, valued at approximately $1,591,255.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Bierbusse sold 677 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $113.94, for a total value of $77,137.38. Following the sale, the director now directly owns 12,675 shares of the company’s stock, valued at $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is currently owned by company insiders.
About Sanderson Farms
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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