Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Sanderson Farms, Inc. (NASDAQ:SAFM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,424 shares of the company’s stock, valued at approximately $570,000.

Other hedge funds also recently bought and sold shares of the company. Shufro Rose & Co. LLC raised its position in Sanderson Farms by 44.4% in the 2nd quarter. Shufro Rose & Co. LLC now owns 55,165 shares of the company’s stock valued at $5,801,000 after purchasing an additional 16,965 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Sanderson Farms in the 2nd quarter valued at about $8,129,000. Foster & Motley Inc. increased its holdings in shares of Sanderson Farms by 37.8% in the 2nd quarter. Foster & Motley Inc. now owns 7,470 shares of the company’s stock valued at $785,000 after acquiring an additional 2,051 shares during the last quarter. Third Avenue Management LLC purchased a new position in shares of Sanderson Farms in the 2nd quarter valued at about $1,621,000. Finally, Signature Financial Management Inc. purchased a new position in shares of Sanderson Farms in the 1st quarter valued at about $423,000.

SAFM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Sanderson Farms from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. ValuEngine downgraded Sanderson Farms from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. BidaskClub downgraded Sanderson Farms from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Buckingham Research set a $95.00 price objective on Sanderson Farms and gave the company a “hold” rating in a report on Wednesday, July 25th. Finally, BMO Capital Markets dropped their price objective on Sanderson Farms from $125.00 to $95.00 and set a “market perform” rating on the stock in a report on Friday, May 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Sanderson Farms currently has an average rating of “Hold” and an average price target of $104.80.

SAFM opened at $106.09 on Friday. The stock has a market capitalization of $2.43 billion, a PE ratio of 8.63 and a beta of 0.33. Sanderson Farms, Inc. has a one year low of $95.97 and a one year high of $176.43.

Sanderson Farms (NASDAQ:SAFM) last released its quarterly earnings results on Thursday, August 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($1.17). The firm had revenue of $852.40 million for the quarter, compared to analysts’ expectations of $871.06 million. Sanderson Farms had a return on equity of 9.41% and a net margin of 5.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.09 EPS. sell-side analysts forecast that Sanderson Farms, Inc. will post 4.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Tuesday, July 31st were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, July 30th. This represents a $1.28 dividend on an annualized basis and a yield of 1.21%. Sanderson Farms’s dividend payout ratio is presently 10.41%.

Sanderson Farms declared that its board has initiated a share repurchase program on Thursday, May 31st that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Director John Bierbusse sold 875 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $109.94, for a total transaction of $96,197.50. Following the transaction, the director now owns 12,086 shares in the company, valued at approximately $1,328,734.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phil K. Livingston sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $107.14, for a total value of $53,570.00. Following the transaction, the director now owns 9,682 shares in the company, valued at approximately $1,037,329.48. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Sanderson Farms 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 pack, chill pack, bulk pack, and frozen chicken in whole, cut-up, and boneless form 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 in the export markets.

Read More: How to Invest in Growth Stocks

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

Receive News & Ratings for Sanderson Farms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanderson Farms and related companies with MarketBeat.com's FREE daily email newsletter.