Norges Bank Takes $34.88 Million Position in Sanderson Farms, Inc. (SAFM)

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Norges Bank bought a new stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 351,320 shares of the company’s stock, valued at approximately $34,883,000. Norges Bank owned approximately 1.59% of Sanderson Farms as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SAFM. Strs Ohio purchased a new position in shares of Sanderson Farms in the 4th quarter valued at $29,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Sanderson Farms by 2,890.9% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 329 shares of the company’s stock valued at $33,000 after acquiring an additional 318 shares during the period. Advisor Group Inc. increased its holdings in shares of Sanderson Farms by 33.0% in the 4th quarter. Advisor Group Inc. now owns 874 shares of the company’s stock valued at $86,000 after acquiring an additional 217 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Sanderson Farms by 101.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 977 shares of the company’s stock valued at $100,000 after acquiring an additional 491 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Sanderson Farms by 722.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,719 shares of the company’s stock valued at $178,000 after acquiring an additional 1,510 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Shares of SAFM stock opened at $139.52 on Tuesday. Sanderson Farms, Inc. has a 1-year low of $93.98 and a 1-year high of $141.37. 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 cap of $3.11 billion, a P/E ratio of 46.20 and a beta of 0.78.

Sanderson Farms (NASDAQ:SAFM) last announced its earnings results on Tuesday, February 26th. The company reported ($0.82) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.82) by $1.00. Sanderson Farms had a negative return on equity of 0.04% and a negative net margin of 0.24%. The firm had revenue of $743.40 million for the quarter, compared to the consensus estimate of $705.25 million. During the same period in the previous year, the business earned $2.24 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that Sanderson Farms, Inc. will post 2.6 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the company. BidaskClub upgraded Sanderson Farms from a “hold” rating to a “buy” rating in a report on Saturday. Stephens started coverage on Sanderson Farms in a research note on Monday, March 4th. They set an “equal weight” rating and a $130.00 target price on the stock. BMO Capital Markets boosted their target price on Sanderson Farms from $95.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 27th. Jefferies Financial Group restated a “sell” rating and set a $77.00 target price on shares of Sanderson Farms in a research note on Sunday, February 17th. Finally, JPMorgan Chase & Co. upgraded 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 research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $116.25.

In other Sanderson Farms news, 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 transaction of $77,137.38. Following the sale, the director now owns 12,675 shares in the company, valued at approximately $1,444,189.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lampkin Butts sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $127.82, for a total value of $1,278,200.00. Following the sale, the insider now owns 121,611 shares in the company, valued at approximately $15,544,318.02. The disclosure for this sale can be found here. 5.55% of the stock is 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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