Comerica Bank reduced its stake in Sanderson Farms, Inc. (NASDAQ:SAFM) by 31.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,239 shares of the company’s stock after selling 5,505 shares during the quarter. Comerica Bank owned about 0.05% of Sanderson Farms worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Sanderson Farms by 1.4% in the 2nd quarter. Amalgamated Bank now owns 2,748 shares of the company’s stock worth $318,000 after purchasing an additional 39 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Sanderson Farms by 6.9% in the 2nd quarter. Advisor Group Inc. now owns 961 shares of the company’s stock worth $112,000 after purchasing an additional 62 shares in the last quarter. Biltmore Wealth Management LLC boosted its position in shares of Sanderson Farms by 1.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 5,986 shares of the company’s stock worth $692,000 after purchasing an additional 85 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Sanderson Farms by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 10,484 shares of the company’s stock worth $1,212,000 after purchasing an additional 100 shares in the last quarter. Finally, Texas Permanent School Fund boosted its position in shares of Sanderson Farms by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 14,612 shares of the company’s stock worth $1,690,000 after purchasing an additional 124 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on SAFM. Zacks Investment Research cut Sanderson Farms from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Mizuho cut Sanderson Farms from a “buy” rating to a “neutral” rating and upped their price objective for the company from $151.00 to $160.00 in a research report on Monday, October 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $129.00 price objective (up from $112.00) on shares of Sanderson Farms in a research report on Thursday, August 24th. Stephens cut Sanderson Farms from an “overweight” rating to an “equal weight” rating and set a $145.00 price objective on the stock. in a research report on Thursday, August 17th. Finally, KeyCorp began coverage on Sanderson Farms in a research report on Tuesday, October 31st. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $132.00.

Sanderson Farms, Inc. (SAFM) opened at $172.04 on Friday. The stock has a market capitalization of $3,859.50, a P/E ratio of 13.67 and a beta of 0.60. Sanderson Farms, Inc. has a 12-month low of $80.75 and a 12-month high of $172.66.

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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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