Renaissance Capital LLC Buys Shares of 51,019 Smithfield Foods, Inc (NASDAQ:SFD)

Renaissance Capital LLC bought a new stake in shares of Smithfield Foods, Inc (NASDAQ:SFD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,019 shares of the company's stock, valued at approximately $1,040,000. Smithfield Foods makes up approximately 0.8% of Renaissance Capital LLC's investment portfolio, making the stock its 25th largest position.

Wall Street Analysts Forecast Growth

SFD has been the topic of several research analyst reports. Morgan Stanley began coverage on Smithfield Foods in a research note on Tuesday, March 25th. They set an "overweight" rating and a $28.00 price target on the stock. UBS Group assumed coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating on the stock. Hsbc Global Res raised Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. The Goldman Sachs Group started coverage on Smithfield Foods in a report on Monday, February 24th. They issued a "buy" rating and a $32.00 target price for the company. Finally, Bank of America assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $27.86.

Smithfield Foods Price Performance

Shares of SFD opened at $22.98 on Friday. The company has a fifty day simple moving average of $21.61. The firm has a market cap of $9.03 billion and a P/E ratio of 10.12. Smithfield Foods, Inc has a fifty-two week low of $18.43 and a fifty-two week high of $23.62.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its quarterly 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 analyst estimates of $3.56 billion. The company's quarterly revenue was up 9.5% on a year-over-year basis.

Smithfield Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given 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 4.35%. Smithfield Foods's 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.

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