HBK Investments L P Invests $4.08 Million in Smithfield Foods, Inc. $SFD

Key Points

• HBK Investments L P acquired a new position in Smithfield Foods, purchasing 200,000 shares valued at approximately $4.08 million, representing about 0.05% of the company's total shares.
• Wall Street analysts are optimistic about Smithfield Foods, with two analysts rating it as a Strong Buy and a consensus average price target of $28.44.
• Smithfield Foods reported quarterly earnings with revenue of $3.79 billion, exceeding expectations and indicating an 11% year-over-year increase, although it missed EPS estimates by $0.01.

HBK Investments L P purchased a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 200,000 shares of the company's stock, valued at approximately $4,078,000. HBK Investments L P owned 0.05% of Smithfield Foods at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in Smithfield Foods during the 1st quarter valued at about $1,456,000. Ghisallo Capital Management LLC purchased a new position in Smithfield Foods during the 1st quarter valued at about $3,058,000. Brightlight Capital Management LP purchased a new position in Smithfield Foods during the 1st quarter valued at about $9,424,000. Kodai Capital Management LP purchased a new position in Smithfield Foods during the 1st quarter valued at about $5,640,000. Finally, Systematic Financial Management LP purchased a new position in Smithfield Foods during the 1st quarter valued at about $2,792,000.

Smithfield Foods Trading Down 1.8%

NASDAQ SFD traded down $0.43 during trading hours on Friday, hitting $23.81. 11,020,271 shares of the company's stock traded hands, compared to its average volume of 1,041,827. The business's fifty day moving average price is $24.63 and its two-hundred day moving average price is $22.52. The firm has a market capitalization of $9.36 billion and a P/E ratio of 10.49. Smithfield Foods, Inc. has a 52 week low of $18.43 and a 52 week high of $26.07.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $3.62 billion. Smithfield Foods's revenue for the quarter was up 11.0% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's dividend payout ratio is presently 44.05%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Barclays lifted their target price on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Zacks Research raised shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, UBS Group reaffirmed a "buy" rating and issued a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $28.44.

Smithfield Foods Company 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.