Verition Fund Management LLC raised its stake in Sanderson Farms, Inc. (NASDAQ:SAFM – Get Rating) by 2.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,436 shares of the company’s stock after buying an additional 148 shares during the quarter. Verition Fund Management LLC’s holdings in Sanderson Farms were worth $1,207,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Sanderson Farms by 11.8% in the 1st quarter. BlackRock Inc. now owns 2,528,104 shares of the company’s stock valued at $473,995,000 after buying an additional 266,766 shares in the last quarter. Sand Grove Capital Management LLP boosted its stake in Sanderson Farms by 65.3% in the fourth quarter. Sand Grove Capital Management LLP now owns 456,134 shares of the company’s stock valued at $87,158,000 after acquiring an additional 180,248 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Sanderson Farms by 43.1% in the first quarter. Renaissance Technologies LLC now owns 536,618 shares of the company’s stock worth $100,611,000 after purchasing an additional 161,600 shares during the last quarter. Marshall Wace LLP increased its position in shares of Sanderson Farms by 223.1% during the fourth quarter. Marshall Wace LLP now owns 153,607 shares of the company’s stock worth $29,353,000 after purchasing an additional 106,062 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Sanderson Farms during the 4th quarter valued at $17,454,000. 79.59% of the stock is currently owned by institutional investors.
Sanderson Farms Stock Performance
Shares of Sanderson Farms stock opened at $204.00 on Wednesday. The firm’s 50 day simple moving average is $204.80 and its two-hundred day simple moving average is $197.91. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 5.28 and a beta of 0.56. Sanderson Farms, Inc. has a 12-month low of $175.82 and a 12-month high of $221.63.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SAFM. Consumer Edge downgraded Sanderson Farms from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 16th. StockNews.com assumed coverage on Sanderson Farms in a research note on Wednesday, September 14th. They set a “strong-buy” rating on the stock.
Sanderson Farms Company Profile
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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