Hartree Partners LP Acquires Shares of 40,000 Smithfield Foods, Inc. $SFD

Key Points

• Hartree Partners LP invested approximately $816,000 in Smithfield Foods, acquiring 40,000 shares in the 1st quarter of the year.
• Smithfield Foods has received positive analyst ratings, with Zacks Research upgrading the stock to a "strong-buy" and several firms increasing their price targets to around $30.00.
• The company reported quarterly earnings of $0.55 EPS, which fell short of estimates, but revenue increased by 11.0% year-over-year to $3.79 billion.

Hartree Partners LP purchased a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 40,000 shares of the company's stock, valued at approximately $816,000.

Several other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $27,000. Amalgamated Bank acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $28,000. Pacer Advisors Inc. acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $34,000. Deutsche Bank AG acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $74,000. Finally, American Capital Advisory LLC acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $102,000.

Smithfield Foods Stock Performance

Shares of Smithfield Foods stock traded down $0.08 on Wednesday, hitting $25.65. The company had a trading volume of 811,418 shares, compared to its average volume of 735,315. The stock has a market capitalization of $10.08 billion and a price-to-earnings ratio of 11.30. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07. The stock has a 50 day moving average of $24.37 and a 200-day moving average of $22.33.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 44.05%.

Wall Street Analysts Forecast Growth

SFD has been the topic of several recent analyst reports. Zacks Research raised Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Barclays lifted their target price on Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating and set a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Finally, Morgan Stanley lifted their target price on Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Smithfield Foods currently has a consensus rating of "Buy" and a consensus price target of $28.44.

About Smithfield Foods

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.