Renaissance Capital LLC Invests $1.04 Million in Smithfield Foods, Inc (NASDAQ:SFD)

Renaissance Capital LLC acquired a new stake in Smithfield Foods, Inc (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 51,019 shares of the company's stock, valued at approximately $1,040,000. Smithfield Foods makes up 0.8% of Renaissance Capital LLC's holdings, making the stock its 25th biggest holding.

Analysts Set New Price Targets

A number of research firms have recently commented on SFD. BNP Paribas started coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "neutral" rating and a $23.00 price objective for the company. Barclays started coverage on Smithfield Foods in a research note on Monday, February 24th. They issued an "overweight" rating and a $28.00 price objective for the company. HSBC started coverage on Smithfield Foods in a research note on Tuesday, March 18th. They issued a "buy" rating and a $29.00 price objective for the company. Bank of America started coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $28.00 price objective for the company. Finally, Citigroup started coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $27.00 price objective for the company. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $27.86.

Smithfield Foods Trading Up 1.1%

NASDAQ:SFD traded up $0.26 during trading hours on Tuesday, hitting $23.34. The company had a trading volume of 413,755 shares, compared to its average volume of 748,336. The business's 50-day moving average price is $21.70. The firm has a market capitalization of $9.18 billion and a P/E ratio of 10.28. Smithfield Foods, Inc has a 1 year low of $18.43 and a 1 year high of $23.62.

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

Smithfield Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 15th. Smithfield Foods's dividend payout ratio is presently 44.05%.

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.