Sanderson Farms, Inc. (NASDAQ:SAFM) Position Cut by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,163 shares of the company’s stock after selling 114 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sanderson Farms were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Comerica Bank raised its holdings in Sanderson Farms by 35.7% during the third quarter. Comerica Bank now owns 15,962 shares of the company’s stock worth $1,561,000 after purchasing an additional 4,196 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Sanderson Farms by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 155,297 shares of the company’s stock worth $16,052,000 after purchasing an additional 8,692 shares during the last quarter. Rhumbline Advisers raised its holdings in Sanderson Farms by 7.7% during the third quarter. Rhumbline Advisers now owns 44,241 shares of the company’s stock worth $4,573,000 after purchasing an additional 3,182 shares during the last quarter. Commonwealth Bank of Australia acquired a new position in Sanderson Farms during the third quarter worth $682,000. Finally, Bank of New York Mellon Corp raised its holdings in Sanderson Farms by 9.8% during the third quarter. Bank of New York Mellon Corp now owns 381,553 shares of the company’s stock worth $39,441,000 after purchasing an additional 34,105 shares during the last quarter. 99.52% of the stock is owned by institutional investors.

Sanderson Farms stock traded up $0.02 during midday trading on Monday, reaching $139.52. The stock had a trading volume of 659,004 shares, compared to its average volume of 425,011. Sanderson Farms, Inc. has a twelve month low of $93.98 and a twelve month high of $141.37. The stock has a market capitalization of $3.11 billion, a P/E ratio of 46.20 and a beta of 0.78. The company has a current ratio of 2.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.04.

Sanderson Farms (NASDAQ:SAFM) last issued its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.82) by $1.00. The firm had revenue of $743.40 million for the quarter, compared to analysts’ expectations of $705.25 million. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. As a group, sell-side analysts predict that Sanderson Farms, Inc. will post 2.6 EPS for the current year.

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

SAFM has been the subject of several research reports. Barclays reduced their price objective on Sanderson Farms from $110.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, December 18th. Jefferies Financial Group reaffirmed a “sell” rating and set a $77.00 price objective on shares of Sanderson Farms in a report on Wednesday, December 19th. ValuEngine cut Sanderson Farms from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. BidaskClub raised Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 12th. Finally, Mizuho raised Sanderson Farms from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $130.00 in a report on Monday, January 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $116.25.

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Sanderson Farms Company Profile

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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