ClariVest Asset Management LLC reduced its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,803 shares of the company’s stock after selling 11,100 shares during the quarter. ClariVest Asset Management LLC owned about 0.27% of Sanderson Farms worth $9,982,000 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% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock valued at $112,000 after acquiring an additional 62 shares during the period. PNC Financial Services Group Inc. raised its holdings in Sanderson Farms by 144.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the company’s stock valued at $130,000 after acquiring an additional 662 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Sanderson Farms during the second quarter worth approximately $125,000. World Asset Management Inc bought a new position in shares of Sanderson Farms during the third quarter worth approximately $207,000. Finally, Foster & Motley Inc. bought a new position in shares of Sanderson Farms during the third quarter worth approximately $213,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on SAFM. Morgan Stanley began coverage on shares of Sanderson Farms in a report on Friday, November 3rd. They set an “equal weight” rating and a $140.00 target price on the stock. KeyCorp began coverage on shares of Sanderson Farms in a report on Tuesday, October 31st. They set a “sector weight” rating on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “sell” rating in a report on Thursday, October 26th. Mizuho set a $150.00 target price on shares of Sanderson Farms and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $150.00 price objective on shares of Sanderson Farms in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms currently has a consensus rating of “Hold” and a consensus target price of $132.00.
In other Sanderson Farms news, Director John Bierbusse sold 625 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $138.03, for a total value of $86,268.75. Following the sale, the director now owns 14,776 shares in the company, valued at $2,039,531.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fred L. Banks, Jr. sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the completion of the sale, the director now owns 24,948 shares in the company, valued at approximately $3,595,256.28. The disclosure for this sale can be found here. Insiders sold 5,400 shares of company stock worth $771,199 in the last 90 days. Company insiders own 5.66% of the company’s stock.
Shares of Sanderson Farms, Inc. (NASDAQ:SAFM) traded down $2.83 during trading hours on Friday, reaching $162.35. 406,072 shares of the company were exchanged, compared to its average volume of 444,107. The company has a market capitalization of $3,760.00, a PE ratio of 13.13 and a beta of 0.56. Sanderson Farms, Inc. has a fifty-two week low of $74.07 and a fifty-two week high of $167.32.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The business had revenue of $931.90 million for the quarter, compared to analysts’ expectations of $921.40 million. During the same period last year, the firm posted $2.42 earnings per share. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. research analysts forecast that Sanderson Farms, Inc. will post 12.76 EPS for the current fiscal year.
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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