Ancora Advisors LLC Takes Position in Smithfield Foods, Inc. $SFD

Key Points

• Ancora Advisors LLC acquired 276,870 shares of Smithfield Foods, Inc., valued at approximately $5.6 million, increasing their ownership to about 0.07% of the company.
• Wall Street analysts have expressed positive sentiment about Smithfield Foods, with prices targets raised by Barclays, UBS Group, and Morgan Stanley, affirming buy ratings and setting new price targets between $28.50 and $30.00.
• Smithfield Foods announced a quarterly dividend of $0.25 per share, representing a 4.2% yield, while reporting strong revenue growth of 11.0% year-over-year, despite slightly missing earnings expectations.

Ancora Advisors LLC bought a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 276,870 shares of the company's stock, valued at approximately $5,645,000. Ancora Advisors LLC owned 0.07% of Smithfield Foods at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new stake in shares of Smithfield Foods during the first quarter worth approximately $27,000. Amalgamated Bank purchased a new stake in shares of Smithfield Foods during the first quarter worth approximately $28,000. Pacer Advisors Inc. purchased a new stake in shares of Smithfield Foods during the first quarter worth approximately $34,000. Deutsche Bank AG purchased a new stake in shares of Smithfield Foods during the first quarter worth approximately $74,000. Finally, American Capital Advisory LLC purchased a new stake in shares of Smithfield Foods during the first quarter worth approximately $102,000.

Smithfield Foods Trading Down 0.4%

SFD traded down $0.10 during mid-day trading on Tuesday, hitting $23.39. 1,213,431 shares of the stock were exchanged, compared to its average volume of 831,721. The firm's fifty day moving average is $24.63 and its two-hundred day moving average is $22.55. Smithfield Foods, Inc. has a 1-year low of $18.43 and a 1-year high of $26.07. The company has a market cap of $9.19 billion and a PE ratio of 10.30.

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

Smithfield Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 4.3%. Smithfield Foods's dividend payout ratio is presently 44.05%.

Analyst Upgrades and Downgrades

SFD has been the subject of several analyst reports. Barclays upped their target price on Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. UBS Group restated a "buy" rating and issued a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Zacks Research upgraded Smithfield Foods from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Morgan Stanley upped their target price on Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $28.44.

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.