Federated Hermes Inc. Takes $1.48 Million Position in Smithfield Foods, Inc. (NASDAQ:SFD)

Key Points

• Federated Hermes Inc. has acquired a new stake in Smithfield Foods, Inc., purchasing approximately 72,546 shares valued at around $1.48 million during the first quarter.
• Smithfield Foods announced a quarterly dividend of $0.25, set to be paid on August 28th, representing an annualized yield of 3.9%.
• The company's current stock price is $25.37, with a market capitalization of $9.97 billion and a price-to-earnings ratio of 11.18.

Federated Hermes Inc. bought a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 72,546 shares of the company's stock, valued at approximately $1,479,000.

Several other hedge funds have also made changes to their positions in SFD. Amalgamated Bank acquired a new position in Smithfield Foods in the first quarter valued at approximately $28,000. Pacer Advisors Inc. purchased a new stake in Smithfield Foods in the first quarter valued at $34,000. American Capital Advisory LLC acquired a new position in shares of Smithfield Foods in the 1st quarter valued at $102,000. New York State Common Retirement Fund acquired a new position in shares of Smithfield Foods in the 1st quarter valued at $110,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Smithfield Foods during the 1st quarter worth $213,000.

Smithfield Foods Trading Down 0.9%

Shares of NASDAQ:SFD traded down $0.22 during midday trading on Friday, reaching $25.53. 641,004 shares of the company's stock were exchanged, compared to its average volume of 707,880. The company has a market capitalization of $10.04 billion and a PE ratio of 11.25. Smithfield Foods, Inc. has a fifty-two week low of $18.43 and a fifty-two week high of $25.85. The stock has a 50 day moving average price of $23.87.

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 14th. Smithfield Foods's payout ratio is 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.