69,820 Shares in Smithfield Foods, Inc. $SFD Purchased by PDT Partners LLC

Key Points

• PDT Partners LLC acquired 69,820 shares of Smithfield Foods during the second quarter, valued at approximately $1.7 million. Several other institutional investors also initiated positions.
• Smithfield reported quarterly EPS of $0.62, beating estimates of $0.60, while revenue fell 2.3% year over year to $3.70 billion. The stock recently traded at $22.06, below its 50- and 200-day moving averages.
• The company declared a quarterly dividend of $0.3125 per share, representing an annualized dividend of $1.25 and a 5.7% yield. Analysts maintain a “Moderate Buy” consensus with a $31.50 average price target, despite one recent downgrade to “strong sell.”

PDT Partners LLC acquired a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 69,820 shares of the company's stock, valued at approximately $1,694,000.

A number of other institutional investors also recently modified their holdings of SFD. Altshuler Shaham Ltd bought a new position in Smithfield Foods in the 4th quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Smithfield Foods in the 2nd quarter valued at $29,000. Raymond James Financial Inc. acquired a new stake in shares of Smithfield Foods in the 2nd quarter valued at $29,000. Oakworth Capital Inc. bought a new stake in shares of Smithfield Foods during the fourth quarter worth $31,000. Finally, Group One Trading LLC bought a new stake in shares of Smithfield Foods during the first quarter worth $31,000.

Smithfield Foods Trading Down 0.9%

NASDAQ:SFD opened at $22.06 on Thursday. Smithfield Foods, Inc. has a 1-year low of $21.08 and a 1-year high of $29.81. The business's 50-day moving average price is $24.66 and its two-hundred day moving average price is $25.56. The company has a current ratio of 2.56, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 8.23 and a beta of -0.44.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $3.70 billion for the quarter. Smithfield Foods had a net margin of 6.84% and a return on equity of 15.55%. The firm's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. On average, equities analysts expect that Smithfield Foods, Inc. will post 2.45 earnings per share for the current year.

Smithfield Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a $0.3125 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 5.7%. Smithfield Foods's dividend payout ratio is currently 46.64%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SFD shares. Zacks Research cut Smithfield Foods from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Wall Street Zen lowered shares of Smithfield Foods from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $32.00 price target on shares of Smithfield Foods in a research report on Wednesday, August 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Smithfield Foods in a research note on Friday, July 24th. Finally, Bank of America cut their price objective on shares of Smithfield Foods from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, July 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Smithfield Foods Profile

Smithfield Foods, Inc NASDAQ: SFD is one of the world's largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan's Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.

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