Nuveen LLC Takes $441,000 Position in Smithfield Foods, Inc. $SFD

Key Points

• Nuveen LLC has acquired a new position in Smithfield Foods, Inc. during the first quarter, purchasing 21,609 shares valued at approximately $441,000.
• Smithfield Foods reported earnings of $0.55 per share, slightly missing analysts' expectations, but its revenue increased by 11% year-over-year, totaling $3.79 billion.
• The company recently announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 4.1%, with an associated payout ratio of 44.05%.

Nuveen LLC bought a new position in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,609 shares of the company's stock, valued at approximately $441,000.

Other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new stake in Smithfield Foods during the first quarter valued at about $27,000. Amalgamated Bank acquired a new stake in shares of Smithfield Foods during the first quarter worth about $28,000. Pacer Advisors Inc. acquired a new stake in shares of Smithfield Foods during the first quarter worth about $34,000. Deutsche Bank AG acquired a new stake in shares of Smithfield Foods during the first quarter worth about $74,000. Finally, American Capital Advisory LLC purchased a new position in Smithfield Foods during the first quarter valued at approximately $102,000.

Smithfield Foods Stock Performance

SFD opened at $24.24 on Friday. The company has a market cap of $9.53 billion and a P/E ratio of 10.68. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $26.07. The business's 50-day simple moving average is $24.61 and its 200-day simple moving average is $22.50.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted 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 firm's revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, August 14th. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Zacks Research upgraded Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Barclays lifted their price target on Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley lifted 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. Finally, UBS Group reissued a "buy" rating and set a $28.50 price objective (up previously from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Two investment 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's stock. Based on data from MarketBeat.com, the company presently 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.

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