Bank of New York Mellon Corp Has $45.65 Million Stake in Sanderson Farms, Inc. (SAFM)

Bank of New York Mellon Corp cut its stake in shares of Sanderson Farms, Inc. (NASDAQ:SAFM) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,624 shares of the company’s stock after selling 32,459 shares during the period. Bank of New York Mellon Corp owned 1.24% of Sanderson Farms worth $45,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAFM. Vanguard Group Inc. increased its position in shares of Sanderson Farms by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,903,103 shares of the company’s stock worth $220,094,000 after purchasing an additional 98,236 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sanderson Farms by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,493,586 shares of the company’s stock worth $172,735,000 after purchasing an additional 119,111 shares during the last quarter. LSV Asset Management increased its position in shares of Sanderson Farms by 4.9% in the second quarter. LSV Asset Management now owns 1,130,321 shares of the company’s stock worth $130,721,000 after purchasing an additional 53,200 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Sanderson Farms by 4.6% in the second quarter. Renaissance Technologies LLC now owns 1,057,600 shares of the company’s stock worth $122,311,000 after purchasing an additional 46,600 shares during the last quarter. Finally, State Street Corp increased its position in shares of Sanderson Farms by 7.2% in the second quarter. State Street Corp now owns 543,962 shares of the company’s stock worth $62,910,000 after purchasing an additional 36,489 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Sanderson Farms, Inc. (NASDAQ SAFM) opened at $168.86 on Wednesday. Sanderson Farms, Inc. has a 52-week low of $84.27 and a 52-week high of $176.43. The company has a market cap of $3,930.46, a P/E ratio of 13.93 and a beta of 0.61.

Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Sanderson Farms from a “hold” rating to a “buy” rating and set a $164.00 price objective on the stock in a research report on Tuesday, October 17th. BMO Capital Markets restated a “hold” rating and issued a $150.00 price objective on shares of Sanderson Farms in a research report on Friday, October 13th. Stephens restated an “equal weight” rating and issued a $170.00 price objective (up from $145.00) on shares of Sanderson Farms in a research report on Monday, September 25th. ValuEngine upgraded shares of Sanderson Farms from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Morgan Stanley assumed coverage on shares of Sanderson Farms in a research report on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $135.09.

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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.

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

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