Oppenheimer & Co. Inc. Makes New Investment in Smithfield Foods, Inc. (NASDAQ:SFD)

Oppenheimer & Co. Inc. acquired a new position in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,463 shares of the company's stock, valued at approximately $213,000.

Separately, Renaissance Capital LLC purchased a new position in shares of Smithfield Foods in the 1st quarter valued at approximately $1,040,000.

Smithfield Foods Trading Up 1.4%

SFD stock opened at $24.45 on Friday. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $24.47. The company has a market cap of $9.61 billion and a price-to-earnings ratio of 10.77. The company's 50 day moving average is $22.99.

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

Smithfield Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Analysts Set New Price Targets

SFD has been the subject of a number of research analyst reports. Hsbc Global Res upgraded Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. HSBC initiated coverage on Smithfield Foods in a research note on Tuesday, March 18th. They issued a "buy" rating and a $29.00 target price for the company. Finally, Morgan Stanley initiated coverage on Smithfield Foods in a research note on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $27.86.

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.

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