Invesco Ltd. Acquires New Position in Smithfield Foods, Inc. $SFD

Invesco Ltd. acquired a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 67,695 shares of the company's stock, valued at approximately $1,380,000.

A number of other large investors have also made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new position in Smithfield Foods in the 1st quarter valued at about $213,000. Teacher Retirement System of Texas purchased a new position in shares of Smithfield Foods during the first quarter valued at approximately $8,156,000. Amalgamated Bank acquired a new stake in Smithfield Foods during the first quarter worth approximately $28,000. Nisa Investment Advisors LLC acquired a new stake in Smithfield Foods during the first quarter worth approximately $255,000. Finally, DAVENPORT & Co LLC purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $2,587,000.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research raised Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Morgan Stanley increased their target price on Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Barclays lifted their price target on Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, UBS Group reiterated a "buy" rating and set a $28.50 price objective (up from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Two investment 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, the company presently has an average rating of "Buy" and a consensus price target of $28.44.

Smithfield Foods Stock Up 0.7%

Shares of NASDAQ SFD traded up $0.17 during trading on Thursday, reaching $24.24. 1,708,126 shares of the stock were exchanged, compared to its average volume of 757,235. The business's 50-day moving average price is $24.59 and its 200 day moving average price is $22.48. The company has a market capitalization of $9.53 billion and a price-to-earnings ratio of 10.68. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month 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 analysts' consensus estimates of $0.56 by ($0.01). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.62 billion. The business's revenue for the quarter was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

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. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 4.1%. Smithfield Foods's dividend payout ratio is currently 44.05%.

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.