Biltmore Wealth Management buys $600,810 stake in Sanderson Farms (SAFM)

Sanderson Farms (SAFM) : Biltmore Wealth Management scooped up 1,607 additional shares in Sanderson Farms during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 6,857 shares of Sanderson Farms which is valued at $600,810.Sanderson Farms makes up approximately 0.50% of Biltmore Wealth Management’s portfolio.

Other Hedge Funds, Including , California Public Employees Retirement System boosted its stake in SAFM in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 57,100 shares of Sanderson Farms which is valued at $5,003,102. Sanderson Farms makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in SAFM in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 2,333 shares of Sanderson Farms which is valued at $204,417.Lingohr Partner Asset Management Gmbh boosted its stake in SAFM in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 14,298 shares of Sanderson Farms which is valued at $1,270,949. Sanderson Farms makes up approx 1.22% of Lingohr Partner Asset Management Gmbh’s portfolio.James Investment Research Inc boosted its stake in SAFM in the latest quarter, The investment management firm added 34,398 additional shares and now holds a total of 86,567 shares of Sanderson Farms which is valued at $7,327,031. Sanderson Farms makes up approx 0.18% of James Investment Research Inc’s portfolio.

Sanderson Farms opened for trading at $89.46 and hit $90.74 on the upside on Monday, eventually ending the session at $89.2, with a gain of 0.96% or 0.85 points. The heightened volatility saw the trading volume jump to 3,06,913 shares. Company has a market cap of $2,014 M.

On the company’s financial health, Sanderson Farms reported $2.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.58 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.53. The company had revenue of $692.10 million for the quarter, compared to analysts expectations of $671.26 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $3.13 EPS.

Many Wall Street Analysts have commented on Sanderson Farms. Sanderson Farms was Downgraded by JP Morgan to ” Neutral” on May 27, 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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