276,583 Shares in Smithfield Foods, Inc. $SFD Purchased by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP acquired a new stake in Smithfield Foods, purchasing 276,583 shares valued at approximately $5.64 million, representing about 0.07% of the company.
• Several analysts have increased their price targets for Smithfield Foods, with UBS Group raising it to $28.50 and Barclays to $30.00, reflecting a positive outlook for the company.
• Smithfield Foods recently announced a quarterly dividend of $0.25 per share, resulting in a 3.9% annualized dividend yield, with a payout ratio of 44.05%.

Kodai Capital Management LP acquired a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 276,583 shares of the company's stock, valued at approximately $5,640,000. Kodai Capital Management LP owned approximately 0.07% of Smithfield Foods at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new position in shares of Smithfield Foods in the first quarter valued at $25,488,000. Teacher Retirement System of Texas bought a new stake in shares of Smithfield Foods during the first quarter worth $8,156,000. Readystate Asset Management LP bought a new stake in shares of Smithfield Foods during the first quarter worth $7,784,000. Seven Grand Managers LLC bought a new stake in shares of Smithfield Foods during the first quarter worth $5,098,000. Finally, Burkehill Global Management LP bought a new stake in shares of Smithfield Foods during the first quarter worth $4,078,000.

Smithfield Foods Trading Down 4.8%

SFD stock traded down $1.23 during midday trading on Wednesday, reaching $24.28. The stock had a trading volume of 953,859 shares, compared to its average volume of 745,100. The company's fifty day simple moving average is $24.57 and its 200 day simple moving average is $22.47. The company has a market cap of $9.54 billion and a price-to-earnings ratio of 10.70. 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 quarterly earnings data on Tuesday, August 12th. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.62 billion. The business's revenue for the quarter 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. Stockholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's payout ratio is currently 44.05%.

Wall Street Analysts Forecast Growth

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