DAVENPORT & Co LLC acquired a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 126,874 shares of the company's stock, valued at approximately $2,587,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Amalgamated Bank purchased a new stake in Smithfield Foods during the first quarter worth approximately $28,000. Oppenheimer & Co. Inc. purchased a new stake in Smithfield Foods during the first quarter worth approximately $213,000. Finally, Renaissance Capital LLC purchased a new stake in Smithfield Foods during the first quarter worth approximately $1,040,000.
Smithfield Foods Stock Performance
SFD stock traded down $0.24 on Tuesday, reaching $23.87. 291,297 shares of the company's stock were exchanged, compared to its average volume of 476,413. The company has a fifty day moving average of $23.21. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $24.68. The company has a market cap of $9.38 billion and a price-to-earnings ratio of 10.52.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.56 billion. Smithfield Foods's revenue for the quarter was up 9.5% compared to the same quarter last year.
Smithfield Foods Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.19%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's dividend payout ratio (DPR) is 44.05%.
Wall Street Analyst Weigh In
SFD has been the subject of a number of research reports. Hsbc Global Res upgraded Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. Morgan Stanley initiated coverage on Smithfield Foods in a research note on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 price objective for the company. Finally, HSBC assumed coverage on Smithfield Foods in a research note on Tuesday, March 18th. They issued a "buy" rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $27.86.
Get Our Latest Report on Smithfield Foods
Smithfield Foods Company Profile
(
Free Report)
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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