Cinctive Capital Management LP Purchases New Holdings in Smithfield Foods, Inc. $SFD

Key Points

• Cinctive Capital Management LP recently acquired a new stake in Smithfield Foods, Inc., purchasing 167,768 shares valued at approximately $3.42 million during the first quarter.
• Analysts have increased their price targets for Smithfield Foods, with Morgan Stanley and Barclays setting targets of $30.00, while Zacks Research upgraded the stock to a "strong-buy" rating.
• Smithfield Foods announced a quarterly dividend of $0.25, representing an annualized dividend yield of 4.1%, with a current payout ratio of 44.05%.

Cinctive Capital Management LP acquired a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 167,768 shares of the company's stock, valued at approximately $3,421,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. purchased a new stake in Smithfield Foods in the 1st quarter valued at approximately $20,331,000. Ancora Advisors LLC purchased a new stake in Smithfield Foods in the 1st quarter valued at approximately $5,645,000. HBK Investments L P purchased a new stake in Smithfield Foods in the 1st quarter valued at approximately $4,078,000. Royal Bank of Canada purchased a new stake in Smithfield Foods in the 1st quarter valued at approximately $1,456,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Smithfield Foods in the 1st quarter valued at approximately $3,058,000.

Analysts Set New Price Targets

SFD has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Zacks Research raised Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Barclays boosted their price target on Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, 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 note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Smithfield Foods currently has a consensus rating of "Buy" and an average price target of $28.44.

Smithfield Foods Trading Up 0.7%

Shares of NASDAQ SFD opened at $24.24 on Friday. Smithfield Foods, Inc. has a 12-month low of $18.43 and a 12-month high of $26.07. The company has a market cap of $9.53 billion and a P/E ratio of 10.68. The stock has a fifty day moving average price of $24.61 and a 200 day moving average price of $22.50.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its quarterly 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. Smithfield Foods's quarterly revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

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

Smithfield Foods 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.

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