Alyeska Investment Group L.P. Makes New Investment in Smithfield Foods, Inc. $SFD

Key Points

• Alyeska Investment Group L.P. acquired approximately 997,092 shares of Smithfield Foods, valued at around $20.3 million, representing a 0.25% stake in the company.
• Smithfield Foods recently received positive analyst ratings, with Zacks Research upgrading it to a "strong-buy", while UBS and Morgan Stanley both raised their price targets on the stock.
• The company declared a quarterly dividend of $0.25, which translates to an annualized dividend of $1.00 and a yield of 4.1%.

Alyeska Investment Group L.P. acquired a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 997,092 shares of the company's stock, valued at approximately $20,331,000. Alyeska Investment Group L.P. owned 0.25% of Smithfield Foods at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SFD. PNC Financial Services Group Inc. purchased a new position in Smithfield Foods during the first quarter worth about $27,000. Amalgamated Bank purchased a new position in Smithfield Foods during the first quarter worth about $28,000. Pacer Advisors Inc. purchased a new position in Smithfield Foods during the first quarter worth about $34,000. Deutsche Bank AG purchased a new position in Smithfield Foods during the first quarter worth about $74,000. Finally, American Capital Advisory LLC purchased a new position in Smithfield Foods during the first quarter worth about $102,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Zacks Research raised shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Morgan Stanley increased their target price on shares of Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. UBS Group reissued a "buy" rating and set a $28.50 price target (up previously from $25.00) on shares of Smithfield Foods in a research report on Wednesday, August 13th. Finally, Barclays increased their price target on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $28.44.

Smithfield Foods Trading Down 1.8%

NASDAQ:SFD traded down $0.43 during mid-day trading on Friday, hitting $23.81. The stock had a trading volume of 11,020,271 shares, compared to its average volume of 1,560,791. The stock has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $22.54. The company has a market capitalization of $9.36 billion and a PE ratio of 10.49. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $26.07.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.62 billion. The business's revenue was up 11.0% on a year-over-year basis.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 4.2%. Smithfield Foods's dividend payout ratio (DPR) is 44.05%.

About Smithfield Foods

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.