Beach Point Capital Management Lp Exits Position in Sanderson Farms (SAFM)

Sanderson Farms (SAFM) : Beach Point Capital Management Lp has sold out all of its stake in Sanderson Farms during the most recent quarter, according to the disclosure filed by the company on May 11, 2016 with the SEC. The investment management company has sold out 392,203 shares of Sanderson Farms which is valued at $36.2 Million.

Other Hedge Funds, Including , Gsa Capital Partners Llp reduced its stake in SAFM by selling 3,700 shares or 23.72% in the most recent quarter. The Hedge Fund company now holds 11,900 shares of SAFM which is valued at $1.1 Million. Sanderson Farms makes up approx 0.07% of Gsa Capital Partners Llp’s portfolio.Blackrock Group Ltd boosted its stake in SAFM in the latest quarter, The investment management firm added 2,089 additional shares and now holds a total of 30,937 shares of Sanderson Farms which is valued at $2.9 Million.Point View Wealth Management boosted its stake in SAFM in the latest quarter, The investment management firm added 1,882 additional shares and now holds a total of 9,312 shares of Sanderson Farms which is valued at $862,105. Sanderson Farms makes up approx 0.55% of Point View Wealth Management’s portfolio.Diam Ltd. boosted its stake in SAFM in the latest quarter, The investment management firm added 11,784 additional shares and now holds a total of 14,579 shares of Sanderson Farms which is valued at $1.3 Million. Sanderson Farms makes up approx 0.02% of Diam Ltd.’s portfolio. Hanseatic Management Services Inc added SAFM to its portfolio by purchasing 30 company shares during the most recent quarter which is valued at $2,777.

Sanderson Farms opened for trading at $92.74 and hit $93.46 on the upside on Monday, eventually ending the session at $92.6, with a gain of 0.26% or 0.24 points. The heightened volatility saw the trading volume jump to 2,87,397 shares. Company has a market cap of $2,090 M.

On the company’s financial health, Sanderson Farms reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.45. The company had revenue of $605.20 million for the quarter, compared to analysts expectations of $576.15 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.87 EPS.

Many Wall Street Analysts have commented on Sanderson Farms. Sanderson Farms was Downgraded by Goldman to ” Sell” on Mar 15, 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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