Quantbot Technologies LP Makes New Investment in Smithfield Foods, Inc. $SFD

Key Points

• Quantbot Technologies LP has invested approximately $411,000 in Smithfield Foods, Inc. by acquiring 20,168 shares during the first quarter.
• Smithfield Foods reported a quarterly earnings per share of $0.55, falling short of expectations, while its revenues increased by 11.0% year-over-year to $3.79 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 3.9%.

Quantbot Technologies LP acquired a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,168 shares of the company's stock, valued at approximately $411,000.

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

Analysts Set New Price Targets

Several analysts have weighed in on SFD shares. Morgan Stanley upped their price objective on shares of Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Barclays upped their target price on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Zacks Research upgraded shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, UBS Group reiterated a "buy" rating and set a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Smithfield Foods presently has a consensus rating of "Buy" and an average target price of $28.44.

Smithfield Foods Stock Down 0.1%

NASDAQ SFD traded down $0.03 during trading hours on Monday, hitting $25.43. The company's stock had a trading volume of 1,159,031 shares, compared to its average volume of 949,571. The stock has a fifty day moving average of $24.50 and a 200 day moving average of $22.42. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $26.07. The firm has a market capitalization of $10.00 billion and a P/E ratio of 11.20.

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 the consensus estimate of $0.56 by ($0.01). The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.62 billion. The company's revenue for the quarter was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's dividend payout ratio is currently 44.05%.

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.