Jennison Associates LLC Invests $1.33 Million in Sanderson Farms, Inc. (SAFM)

Jennison Associates LLC acquired a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,216 shares of the company’s stock, valued at approximately $1,327,000.

Other large investors have also recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of Sanderson Farms by 18.0% during the second quarter. Prudential Financial Inc. now owns 412,379 shares of the company’s stock worth $47,691,000 after buying an additional 62,820 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Sanderson Farms during the second quarter worth $309,000. Legal & General Group Plc grew its stake in shares of Sanderson Farms by 9.6% during the second quarter. Legal & General Group Plc now owns 40,443 shares of the company’s stock worth $4,681,000 after buying an additional 3,559 shares during the last quarter. Chicago Equity Partners LLC grew its stake in shares of Sanderson Farms by 259.8% during the second quarter. Chicago Equity Partners LLC now owns 37,667 shares of the company’s stock worth $4,356,000 after buying an additional 27,197 shares during the last quarter. Finally, Aull & Monroe Investment Management Corp bought a new stake in shares of Sanderson Farms during the third quarter worth $363,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Sanderson Farms in a research note on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 price objective on the stock. KeyCorp assumed coverage on shares of Sanderson Farms in a research note on Tuesday, October 31st. They issued a “sector weight” rating on the stock. Zacks Investment Research cut shares of Sanderson Farms from a “buy” rating to a “sell” rating in a research note on Thursday, October 26th. Mizuho set a $150.00 target price on shares of Sanderson Farms and gave the company a “hold” rating in a report on Monday, October 16th. Finally, BMO Capital Markets restated a “hold” rating and issued a $150.00 target price on shares of Sanderson Farms in a report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sanderson Farms has a consensus rating of “Hold” and a consensus price target of $132.00.

In related news, Director Fred L. Banks, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $144.11, for a total transaction of $432,330.00. Following the sale, the director now directly owns 24,948 shares in the company, valued at approximately $3,595,256.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert C. Khayat sold 1,775 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $142.31, for a total transaction of $252,600.25. Following the sale, the director now owns 12,043 shares in the company, valued at $1,713,839.33. The disclosure for this sale can be found here. Insiders have sold a total of 5,400 shares of company stock valued at $771,199 over the last three months. Insiders own 5.66% of the company’s stock.

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Shares of Sanderson Farms, Inc. (SAFM) opened at $162.35 on Monday. Sanderson Farms, Inc. has a 52-week low of $74.07 and a 52-week high of $167.32. The stock has a market cap of $3,692.56, a PE ratio of 13.08 and a beta of 0.56.

Sanderson Farms (NASDAQ:SAFM) last issued its quarterly earnings data on Thursday, August 24th. The company reported $5.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.47 by $1.62. Sanderson Farms had a net margin of 8.77% and a return on equity of 22.21%. The business had revenue of $931.90 million during the quarter, compared to the consensus estimate of $921.40 million. During the same period in the prior year, the firm posted $2.42 EPS. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. equities analysts predict that Sanderson Farms, Inc. will post 12.76 EPS for the current year.

Sanderson Farms Company Profile

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.

Institutional Ownership by Quarter for Sanderson Farms (NASDAQ:SAFM)

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