American National Bank Lowers stake in Sanderson Farms (SAFM)

Sanderson Farms (SAFM) : American National Bank reduced its stake in Sanderson Farms by 8.68% during the most recent quarter end. The investment management company now holds a total of 30,497 shares of Sanderson Farms which is valued at $2,838,966 after selling 2,898 shares in Sanderson Farms , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Sanderson Farms makes up approximately 0.96% of American National Bank’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc reduced its stake in SAFM by selling 344 shares or 6.56% in the most recent quarter. The Hedge Fund company now holds 4,901 shares of SAFM which is valued at $456,234. Sanderson Farms makes up approx 0.10% of Howe Rusling Inc’s portfolio. Msi Financial Services Inc added SAFM to its portfolio by purchasing 1 company shares during the most recent quarter which is valued at $95.Nisa Investment Advisors boosted its stake in SAFM in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 8,700 shares of Sanderson Farms which is valued at $824,238. Sanderson Farms makes up approx 0.01% of Nisa Investment Advisors’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in SAFM by selling 3,263 shares or 44.86% in the most recent quarter. The Hedge Fund company now holds 4,011 shares of SAFM which is valued at $372,181. Eqis Capital Management added SAFM to its portfolio by purchasing 2,793 company shares during the most recent quarter which is valued at $259,162. Sanderson Farms makes up approx 0.02% of Eqis Capital Management’s portfolio.

Sanderson Farms closed down -1.98 points or -2.08% at $93.09 with 4,27,771 shares getting traded on Friday. Post opening the session at $95.23, the shares hit an intraday low of $93.02 and an intraday high of $96.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Sanderson Farms reported $2.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Aug 25, 2016. Analyst had a consensus of $2.23. The company had revenue of $728.00 million for the quarter, compared to analysts expectations of $740.93 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.27 EPS.

Many Wall Street Analysts have commented on Sanderson Farms. Sanderson Farms was Upgraded by CLSA to ” Buy” on Aug 18, 2016.

Sanderson Farms Inc. is a poultry processing company which is engaged in the production processing marketing and distribution of fresh and frozen chicken and other prepared chicken items. In addition the Company is engaged in the processing marketing and distribution of prepared chicken through its wholly owned subsidiary Sanderson Farms Inc. (Foods Division). It produces a range of processed chicken products and prepared chicken items. 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 and casual dining operators in the south-eastern south-western north-eastern and western United States and to customers who resell frozen chicken into export markets. During the fiscal year ended October 31 2013 (fiscal 2013) it processed 452 million chickens or over 3.0 billion dressed pounds.

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