Readystate Asset Management LP Makes New Investment in Smithfield Foods, Inc. (NASDAQ:SFD)

Readystate Asset Management LP purchased a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 381,769 shares of the company's stock, valued at approximately $7,784,000. Readystate Asset Management LP owned about 0.10% of Smithfield Foods at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SFD. Renaissance Capital LLC purchased a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $1,040,000. Oppenheimer & Co. Inc. purchased a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $213,000. Amalgamated Bank purchased a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $28,000. DAVENPORT & Co LLC purchased a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $2,587,000. Finally, American Capital Advisory LLC purchased a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $102,000.

Smithfield Foods Price Performance

Smithfield Foods stock traded up $0.10 during trading on Friday, reaching $23.89. The company had a trading volume of 414,705 shares, compared to its average volume of 706,424. The company has a 50-day moving average of $23.52. Smithfield Foods, Inc. has a 1-year low of $18.43 and a 1-year high of $24.68. The company has a market capitalization of $9.39 billion and a price-to-earnings ratio of 10.52.

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

Smithfield Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid 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 yield of 4.19%. Smithfield Foods's dividend payout ratio is currently 44.05%.

Smithfield Foods Company 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.