BlackRock Inc. reduced its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,261,311 shares of the company’s stock after selling 53,232 shares during the quarter. BlackRock Inc. owned about 10.21% of Sanderson Farms worth $298,131,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Texas Permanent School Fund increased its stake in Sanderson Farms by 0.7% in the first quarter. Texas Permanent School Fund now owns 13,238 shares of the company’s stock valued at $1,745,000 after purchasing an additional 86 shares during the last quarter. Suntrust Banks Inc. increased its stake in Sanderson Farms by 4.0% in 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 during the last quarter. Arizona State Retirement System increased its stake in Sanderson Farms by 1.1% in 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 during the last quarter. Quadrant Capital Group LLC acquired a new position in Sanderson Farms in the first quarter valued at $26,000. Finally, Advisor Group Inc. increased its stake in 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 purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research note on Saturday. Goldman Sachs Group upgraded Sanderson Farms from a “sell” rating to a “neutral” rating and upped their price target for the stock from $81.00 to $131.00 in a research note on Tuesday, April 23rd. Cleveland Research upgraded Sanderson Farms from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. upgraded Sanderson Farms from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $88.00 to $127.00 in a research note on Wednesday, March 13th. Finally, Buckingham Research upped their price target on Sanderson Farms from $115.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $124.13.
Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.06. The firm had revenue of $845.23 million during the quarter, compared to the consensus estimate of $846.70 million. Sanderson Farms had a negative return on equity of 0.13% and a negative net margin of 0.28%. Sanderson Farms’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 earnings per share. Research analysts anticipate that Sanderson Farms, Inc. will post 6.22 earnings per share for the current year.
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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