Ghisallo Capital Management LLC Invests $3.06 Million in Smithfield Foods, Inc. $SFD

Key Points

• Ghisallo Capital Management LLC acquired 150,000 shares of Smithfield Foods, valued at approximately $3.06 million, during the 1st quarter as per their 13F filing.
• Smithfield Foods recently reported a missed earnings estimate with $0.55 earnings per share, falling short of the expected $0.56, while their revenue increased by 11% year-over-year to $3.79 billion.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 3.9%, with a payout ratio of 44.05%.

Ghisallo Capital Management LLC acquired a new position in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 150,000 shares of the company's stock, valued at approximately $3,058,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Alberta Investment Management Corp bought a new stake in shares of Smithfield Foods in the 1st quarter worth about $25,488,000. Brightlight Capital Management LP bought a new stake in shares of Smithfield Foods in the 1st quarter worth about $9,424,000. Teacher Retirement System of Texas bought a new stake in shares of Smithfield Foods in the 1st quarter worth about $8,156,000. Readystate Asset Management LP bought a new stake in shares of Smithfield Foods in the 1st quarter worth about $7,784,000. Finally, Kodai Capital Management LP bought a new stake in Smithfield Foods during the 1st quarter valued at about $5,640,000.

Smithfield Foods Stock Down 5.6%

Shares of Smithfield Foods stock traded down $1.44 on Wednesday, reaching $24.07. The stock had a trading volume of 1,801,478 shares, compared to its average volume of 881,425. The company has a 50 day moving average price of $24.59 and a 200 day moving average price of $22.48. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07. The stock has a market capitalization of $9.46 billion and a P/E ratio of 10.60.

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

Smithfield Foods Dividend Announcement

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 4.2%. The ex-dividend date of this dividend was Thursday, August 14th. Smithfield Foods's payout ratio is presently 44.05%.

Analyst Upgrades and Downgrades

SFD has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. UBS Group reiterated a "buy" rating and set a $28.50 price objective (up previously from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Zacks Research upgraded shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Morgan Stanley lifted their price objective on shares of Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Two equities research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $28.44.

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.