Renaissance Technologies LLC Boosts Stock Holdings in Smithfield Foods, Inc. $SFD

Key Points

• Renaissance Technologies increased its Smithfield Foods stake by 52.8% in the first quarter, acquiring 112,200 additional shares for a total position worth approximately $9.1 million.
• Analyst sentiment remains positive overall, with five Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $30.88.
• Smithfield Foods declared a quarterly dividend of $0.3125 per share, equivalent to $1.25 annually and a 4.8% yield; the stock recently opened at $26.04.

Renaissance Technologies LLC lifted its position in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) by 52.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,500 shares of the company's stock after acquiring an additional 112,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Smithfield Foods worth $9,076,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SFD. Capital Financial Group Inc. Co. ADV boosted its holdings in Smithfield Foods by 5.8% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 10,863 shares of the company's stock worth $304,000 after purchasing an additional 600 shares during the last quarter. Parallel Advisors LLC increased its stake in Smithfield Foods by 46.2% in the 4th quarter. Parallel Advisors LLC now owns 2,328 shares of the company's stock valued at $52,000 after buying an additional 736 shares during the last quarter. Verition Fund Management LLC increased its stake in Smithfield Foods by 1.1% in the 3rd quarter. Verition Fund Management LLC now owns 68,812 shares of the company's stock valued at $1,616,000 after buying an additional 739 shares during the last quarter. Group One Trading LLC bought a new position in shares of Smithfield Foods during the 1st quarter worth approximately $31,000. Finally, Altshuler Shaham Ltd bought a new position in shares of Smithfield Foods during the 4th quarter worth approximately $25,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SFD shares. Zacks Research lowered Smithfield Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, May 25th. Wall Street Zen lowered Smithfield Foods from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Bank of America cut their price objective on Smithfield Foods from $33.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, July 2nd. Barclays upped their price objective on Smithfield Foods from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Smithfield Foods in a research note on Friday, July 24th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.88.

Smithfield Foods Stock Performance

NASDAQ:SFD opened at $26.04 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.41 and a quick ratio of 1.29. The business has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $25.58. Smithfield Foods, Inc. has a 1 year low of $21.08 and a 1 year high of $29.81. The company has a market capitalization of $10.25 billion, a P/E ratio of 10.17 and a beta of -0.44.

Smithfield Foods Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a dividend of $0.3125 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.25 annualized dividend and a dividend yield of 4.8%. Smithfield Foods's dividend payout ratio is presently 48.83%.

Smithfield Foods Profile

Smithfield Foods, Inc NASDAQ: SFD is one of the world's largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan's Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.

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