Seven Grand Managers LLC Purchases Shares of 250,000 Smithfield Foods, Inc. $SFD

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 purchased a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 250,000 shares of the company's stock, valued at approximately $5,098,000. Smithfield Foods accounts for 1.2% of Seven Grand Managers LLC's portfolio, making the stock its 25th biggest holding. Seven Grand Managers LLC owned 0.06% of Smithfield Foods as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Renaissance Capital LLC acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $1,040,000. Oppenheimer & Co. Inc. acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $213,000. Amalgamated Bank acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $28,000. DAVENPORT & Co LLC acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $2,587,000. Finally, American Capital Advisory LLC acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $102,000.

Smithfield Foods Price Performance

Shares of NASDAQ SFD traded up $0.27 during trading hours on Wednesday, hitting $25.42. 180,194 shares of the stock were exchanged, compared to its average volume of 726,150. The company's 50 day moving average is $24.16 and its 200 day moving average is $22.17. The firm has a market capitalization of $9.99 billion and a P/E ratio of 11.20. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $25.99.

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

Smithfield Foods Dividend Announcement

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

Wall Street Analyst Weigh In

SFD has been the topic of several research reports. Barclays upped their price objective on shares of Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Morgan Stanley upped their price objective on shares of Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating and issued a $28.50 price objective (up previously from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Finally, Zacks Research upgraded shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $28.44.

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.