Bank of New York Mellon Corp Purchases Shares of 28,963 Smithfield Foods, Inc. (NASDAQ:SFD)

Key Points

• Bank of New York Mellon Corp has initiated a new stake in Smithfield Foods, Inc., acquiring 28,963 shares valued at approximately $591,000.
• Smithfield Foods has announced a quarterly dividend of $0.25 per share, which equates to an annualized dividend of $1.00 and a yield of 4.1%.
• The stock currently trades at $24.32, with a 12-month high of $24.68 and a low of $18.43, reflecting a market capitalization of $9.56 billion.

Bank of New York Mellon Corp bought a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 28,963 shares of the company's stock, valued at approximately $591,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new stake in shares of Smithfield Foods during the first quarter worth about $8,156,000. American Capital Advisory LLC acquired a new stake in Smithfield Foods during the 1st quarter worth approximately $102,000. DAVENPORT & Co LLC purchased a new position in shares of Smithfield Foods in the 1st quarter valued at approximately $2,587,000. Amalgamated Bank acquired a new position in shares of Smithfield Foods in the first quarter valued at approximately $28,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Smithfield Foods in the first quarter valued at approximately $213,000.

Smithfield Foods Stock Performance

Shares of NASDAQ SFD traded up $0.20 during mid-day trading on Friday, hitting $24.32. 858,165 shares of the company were exchanged, compared to its average volume of 638,221. The business's 50 day moving average is $23.64. Smithfield Foods, Inc. has a 1-year low of $18.43 and a 1-year high of $24.68. The company has a market capitalization of $9.56 billion and a price-to-earnings ratio of 10.71.

Smithfield Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th. Smithfield Foods's dividend payout ratio is currently 44.05%.

Smithfield Foods Company Profile

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.