Corecommodity Management Lowers stake in Sanderson Farms (SAFM)

Sanderson Farms (SAFM) : Corecommodity Management reduced its stake in Sanderson Farms by 36.04% during the most recent quarter end. The investment management company now holds a total of 36,223 shares of Sanderson Farms which is valued at $3,111,918 after selling 20,410 shares in Sanderson Farms , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Sanderson Farms makes up approximately 3.20% of Corecommodity Management’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc reduced its stake in SAFM by selling 1,033 shares or 30.16% in the most recent quarter. The Hedge Fund company now holds 2,392 shares of SAFM which is valued at $205,497.Vident Investment Advisory reduced its stake in SAFM by selling 1,253 shares or 4.61% in the most recent quarter. The Hedge Fund company now holds 25,934 shares of SAFM which is valued at $2,182,346. Sanderson Farms makes up approx 0.29% of Vident Investment Advisory’s portfolio. Ipg Investment Advisors sold out all of its stake in SAFM during the most recent quarter. The investment firm sold 3,600 shares of SAFM which is valued $311,220.Ubs Asset Management Americas Inc boosted its stake in SAFM in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 12,641 shares of Sanderson Farms which is valued at $1,084,471.Advisors Asset Management reduced its stake in SAFM by selling 304 shares or 7.03% in the most recent quarter. The Hedge Fund company now holds 4,019 shares of SAFM which is valued at $368,181. Sanderson Farms makes up approx 0.01% of Advisors Asset Management’s portfolio.

Sanderson Farms closed down -0.98 points or -1.19% at $81.04 with 12,64,709 shares getting traded on Monday. Post opening the session at $82.12, the shares hit an intraday low of $80.78 and an intraday high of $82.15 and the price fluctuated in this range throughout the day.Shares ended Monday 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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