Oppenheimer & Co. Inc. purchased a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,463 shares of the company's stock, valued at approximately $213,000.
Separately, Renaissance Capital LLC bought a new position in Smithfield Foods during the 1st quarter worth $1,040,000.
Smithfield Foods Stock Down 1.4%
Shares of NASDAQ SFD traded down $0.34 during trading hours on Monday, hitting $24.11. 471,387 shares of the company traded hands, compared to its average volume of 465,365. The firm's 50 day moving average is $23.16. The company has a market capitalization of $9.48 billion and a PE ratio of 10.62. Smithfield Foods, Inc. has a 12 month low of $18.43 and a 12 month high of $24.68.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The business had revenue of $3.77 billion during 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 company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders 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 dividend yield of 4.15%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's payout ratio is 44.05%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Hsbc Global Res raised Smithfield Foods to a "strong-buy" rating in a research report on Tuesday, March 18th. HSBC assumed coverage on Smithfield Foods in a research note on Tuesday, March 18th. They issued a "buy" rating and a $29.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Smithfield Foods in a research note on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $27.86.
Check Out Our Latest Analysis on SFD
Smithfield Foods Profile
(
Free Report)
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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