FNY Investment Advisers LLC Buys New Stake in Sanderson Farms, Inc. (SAFM)

FNY Investment Advisers LLC bought a new stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,088 shares of the company’s stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Suntrust Banks Inc. lifted its holdings in Sanderson Farms by 4.0% during the fourth quarter. Suntrust Banks Inc. now owns 2,244 shares of the company’s stock valued at $222,000 after purchasing an additional 87 shares in the last quarter. We Are One Seven LLC lifted its holdings in Sanderson Farms by 5.3% during the fourth 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 in the last quarter. Arizona State Retirement System lifted its holdings in Sanderson Farms by 1.1% during the fourth quarter. Arizona State Retirement System now owns 14,425 shares of the company’s stock valued at $1,432,000 after purchasing an additional 155 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in Sanderson Farms by 1.6% during the fourth quarter. Formidable Asset Management LLC now owns 10,773 shares of the company’s stock valued at $1,070,000 after purchasing an additional 167 shares in the last quarter. Finally, Advisor Group Inc. lifted its holdings in Sanderson Farms by 33.0% during the fourth quarter. Advisor Group Inc. now owns 874 shares of the company’s stock valued at $86,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Several equities analysts have weighed in on SAFM shares. Jefferies Financial Group reaffirmed a “sell” rating and set a $77.00 price target on shares of Sanderson Farms in a report on Wednesday, December 19th. ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 13th. BidaskClub downgraded shares of Sanderson Farms from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Buckingham Research boosted their target price on shares of Sanderson Farms from $115.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised shares of Sanderson Farms from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $88.00 to $127.00 in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $116.25.

SAFM stock opened at $143.86 on Thursday. Sanderson Farms, Inc. has a one year low of $93.98 and a one year high of $143.91. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3.09 billion, a PE ratio of 47.64 and a beta of 0.78.

Sanderson Farms (NASDAQ:SAFM) last released its earnings results on Tuesday, February 26th. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($1.82) by $1.00. Sanderson Farms had a negative net margin of 0.24% and a negative return on equity of 0.04%. The firm had revenue of $743.40 million for the quarter, compared to the consensus estimate of $705.25 million. During the same quarter in the previous year, the firm earned $2.24 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Sanderson Farms, Inc. will post 2.69 EPS for the current year.

In related news, insider Lampkin Butts sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $127.82, for a total transaction of $1,278,200.00. Following the sale, the insider now owns 121,611 shares of the company’s stock, valued at $15,544,318.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Bierbusse sold 677 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $113.94, for a total transaction of $77,137.38. Following the sale, the director now directly owns 12,675 shares in the company, valued at approximately $1,444,189.50. The disclosure for this sale can be found here. 5.55% of the stock is currently owned by insiders.

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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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Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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