DekaBank Deutsche Girozentrale cut its holdings in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 63.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,289 shares of the company’s stock after selling 38,697 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.10% of Sanderson Farms worth $3,190,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Aperio Group LLC raised its holdings in shares of Sanderson Farms by 28.6% during the third quarter. Aperio Group LLC now owns 22,899 shares of the company’s stock valued at $3,699,000 after acquiring an additional 5,091 shares during the period. Prudential Financial Inc. grew its position in Sanderson Farms by 18.0% in the second quarter. Prudential Financial Inc. now owns 412,379 shares of the company’s stock worth $47,691,000 after acquiring an additional 62,820 shares in the last quarter. Koch Industries Inc. bought a new stake in Sanderson Farms in the second quarter worth approximately $309,000. Legal & General Group Plc grew its position in Sanderson Farms by 9.6% in the second quarter. Legal & General Group Plc now owns 40,443 shares of the company’s stock worth $4,681,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Aull & Monroe Investment Management Corp bought a new stake in Sanderson Farms in the third quarter worth approximately $363,000. 99.88% of the stock is owned by institutional investors and hedge funds.
SAFM has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday. Stephens reaffirmed an “equal weight” rating and set a $170.00 price objective (up from $145.00) on shares of Sanderson Farms in a report on Monday, September 25th. Mizuho downgraded shares of Sanderson Farms from a “buy” rating to a “neutral” rating and increased their price target for the company from $151.00 to $160.00 in a report on Monday, October 2nd. J P Morgan Chase & Co downgraded shares of Sanderson Farms from a “neutral” rating to an “underweight” rating and increased their price target for the company from $129.00 to $134.00 in a report on Friday, October 6th. Finally, ValuEngine raised shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $135.09.
Sanderson Farms, Inc. (SAFM) traded down $1.00 on Thursday, reaching $168.76. 364,120 shares of the company’s stock traded hands, compared to its average volume of 442,878. The firm has a market cap of $3,840.62, a PE ratio of 13.61 and a beta of 0.61. Sanderson Farms, Inc. has a 52-week low of $84.30 and a 52-week high of $176.43.
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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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