250,000 Shares in Smithfield Foods, Inc. $SFD Bought by Seven Grand Managers LLC

Key Points

• Seven Grand Managers LLC invested approximately $5.10 million in Smithfield Foods, acquiring 250,000 shares, making it the firm's 25th largest holding.
• Smithfield Foods announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 3.9%.
• Analysts show optimism for Smithfield Foods, with recent upgrades leading to a consensus rating of "Buy" and an average price target of $28.44.

Seven Grand Managers LLC bought a new position in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 250,000 shares of the company's stock, valued at approximately $5,098,000. Smithfield Foods accounts for approximately 1.2% of Seven Grand Managers LLC's portfolio, making the stock its 25th largest position. Seven Grand Managers LLC owned about 0.06% of Smithfield Foods at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $27,000. Amalgamated Bank purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $28,000. Pacer Advisors Inc. purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $34,000. Deutsche Bank AG purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $74,000. Finally, American Capital Advisory LLC purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $102,000.

Smithfield Foods Stock Up 1.7%

Shares of NASDAQ SFD traded up $0.44 during trading on Wednesday, hitting $25.59. 1,333,196 shares of the company traded hands, compared to its average volume of 861,485. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $25.99. The company has a 50-day moving average price of $24.20 and a 200-day moving average price of $22.19. The firm has a market capitalization of $10.06 billion and a P/E ratio of 11.27.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The company had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.62 billion. Smithfield Foods's revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 14th. Smithfield Foods's dividend payout ratio is 44.05%.

Analyst Ratings Changes

Several analysts have commented on SFD shares. Morgan Stanley lifted their target price 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. Zacks Research raised shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Barclays lifted their target price on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Finally, UBS Group reissued a "buy" rating and set a $28.50 price objective (up from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $28.44.

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.