12,500 Shares in Smithfield Foods, Inc. (NASDAQ:SFD) Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC bought a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 12,500 shares of the company's stock, valued at approximately $255,000.

Several other institutional investors also recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in Smithfield Foods in the first quarter valued at approximately $28,000. American Capital Advisory LLC acquired a new position in Smithfield Foods during the first quarter worth $102,000. Oppenheimer & Co. Inc. acquired a new position in Smithfield Foods during the first quarter worth $213,000. Bank of New York Mellon Corp purchased a new stake in Smithfield Foods during the first quarter worth $591,000. Finally, Renaissance Capital LLC purchased a new stake in Smithfield Foods during the first quarter worth $1,040,000.

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on Smithfield Foods in a research note on Tuesday, March 25th. They set an "overweight" rating and a $28.00 price target for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $27.86.

Smithfield Foods Price Performance

NASDAQ:SFD traded down $0.04 during trading hours on Monday, hitting $23.55. 592,062 shares of the stock were exchanged, compared to its average volume of 709,992. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $24.68. The firm has a market capitalization of $9.26 billion and a P/E ratio of 10.37. The company's 50 day moving average is $23.43.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.11. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.56 billion. The company's quarterly revenue was up 9.5% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.25%. Smithfield Foods's dividend payout ratio is presently 44.05%.

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.