Algert Global LLC Has $7.06 Million Stock Position in Smithfield Foods, Inc. $SFD

Key Points

• Algert Global reduced its Smithfield Foods stake by 52.6% in the second quarter, selling 323,200 shares and retaining 290,884 shares valued at approximately $7.06 million.
• Smithfield Foods beat quarterly earnings expectations with EPS of $0.62 versus a $0.60 consensus estimate, though revenue declined 2.3% year over year to $3.70 billion.
• The company declared a quarterly dividend of $0.3125, equivalent to $1.25 annually and a 5.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $31.50, despite mixed individual ratings.

Algert Global LLC lessened its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) by 52.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,884 shares of the company's stock after selling 323,200 shares during the quarter. Algert Global LLC owned 0.07% of Smithfield Foods worth $7,057,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SFD. Altshuler Shaham Ltd bought a new position in Smithfield Foods during the 4th quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Smithfield Foods during the second quarter valued at about $29,000. Raymond James Financial Inc. bought a new stake in Smithfield Foods in the 2nd quarter worth about $29,000. Oakworth Capital Inc. bought a new stake in Smithfield Foods in the 4th quarter worth about $31,000. Finally, Group One Trading LLC purchased a new stake in Smithfield Foods in the 1st quarter valued at about $31,000.

Smithfield Foods Stock Performance

NASDAQ SFD opened at $22.06 on Thursday. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 8.23 and a beta of -0.44. The company has a 50-day simple moving average of $24.66 and a two-hundred day simple moving average of $25.56. The company has a quick ratio of 1.34, a current ratio of 2.56 and a debt-to-equity ratio of 0.20. Smithfield Foods, Inc. has a 12-month low of $21.08 and a 12-month high of $29.81.

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

Smithfield Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.25 annualized dividend and a dividend yield of 5.7%. Smithfield Foods's dividend payout ratio (DPR) is 46.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SFD. The Goldman Sachs Group reissued a "buy" rating and set a $32.00 target price on shares of Smithfield Foods in a research report on Wednesday, August 12th. Zacks Research downgraded Smithfield Foods from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Smithfield Foods in a research report on Friday, July 24th. Wall Street Zen lowered Smithfield Foods from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Finally, Barclays dropped their price target on Smithfield Foods from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.50.

About Smithfield Foods

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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