MetLife Investment Advisors LLC purchased a new position in Sanderson Farms, Inc. (NASDAQ:SAFM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 22,116 shares of the company’s stock, valued at approximately $3,069,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Sanderson Farms by 6.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 173,971 shares of the company’s stock worth $28,100,000 after buying an additional 10,829 shares during the last quarter. Macquarie Group Ltd. lifted its position in Sanderson Farms by 8.0% in the third quarter. Macquarie Group Ltd. now owns 18,800 shares of the company’s stock worth $3,036,000 after buying an additional 1,400 shares during the last quarter. Victory Capital Management Inc. lifted its position in Sanderson Farms by 1.2% in the fourth quarter. Victory Capital Management Inc. now owns 212,000 shares of the company’s stock worth $29,421,000 after buying an additional 2,458 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Sanderson Farms in the third quarter worth $472,000. Finally, Nationwide Fund Advisors lifted its position in Sanderson Farms by 167.2% in the third quarter. Nationwide Fund Advisors now owns 53,064 shares of the company’s stock worth $8,571,000 after buying an additional 33,204 shares during the last quarter.
Several research firms have recently weighed in on SAFM. Zacks Investment Research upgraded Sanderson Farms from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 8th. Vertical Group upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley reiterated a “hold” rating and set a $115.00 target price (down from $140.00) on shares of Sanderson Farms in a research report on Tuesday, February 27th. Barclays reiterated an “equal weight” rating on shares of Sanderson Farms in a research report on Monday, February 26th. Finally, BidaskClub downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, nine 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 has a consensus rating of “Hold” and an average target price of $130.10.
Sanderson Farms (NASDAQ:SAFM) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.71). The firm had revenue of $771.90 million for the quarter, compared to analysts’ expectations of $764.22 million. Sanderson Farms had a net margin of 8.96% and a return on equity of 19.30%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 EPS. equities research analysts predict that Sanderson Farms, Inc. will post 9.62 EPS for the current year.
In other news, Director John Bierbusse sold 750 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.38, for a total transaction of $90,285.00. Following the transaction, the director now owns 12,944 shares in the company, valued at $1,558,198.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.30% of the company’s stock.
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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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