Smithfield Foods, Inc. $SFD Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Smithfield Foods stake by 29.6% in the first quarter, adding 63,824 shares to own 279,527 shares valued at approximately $7.8 million.
• Smithfield Foods declared a quarterly dividend of $0.3125 per share, equivalent to $1.25 annually and a 4.8% yield, with payment scheduled for August 27 to shareholders of record on August 13.
• Analysts maintain a generally positive view, with five Buy ratings and one Hold; the stock has a “Moderate Buy” consensus and a $30.88 average price target versus its reported opening price of $26.04.

Bank of New York Mellon Corp increased its stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) by 29.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,527 shares of the company's stock after acquiring an additional 63,824 shares during the period. Bank of New York Mellon Corp owned approximately 0.07% of Smithfield Foods worth $7,818,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Smithfield Foods in the 4th quarter worth about $25,000. Raymond James Financial Inc. acquired a new position in shares of Smithfield Foods in the second quarter worth $29,000. Oakworth Capital Inc. acquired a new position in Smithfield Foods in the 4th quarter worth about $31,000. Parallel Advisors LLC acquired a new position in Smithfield Foods in the third quarter worth approximately $37,000. Finally, Legal & General Group Plc increased its stake in shares of Smithfield Foods by 82.2% during the 3rd quarter. Legal & General Group Plc now owns 4,024 shares of the company's stock worth $94,000 after purchasing an additional 1,816 shares during the last quarter.

Smithfield Foods Price Performance

SFD stock opened at $26.04 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.29 and a debt-to-equity ratio of 0.20. Smithfield Foods, Inc. has a 1 year low of $21.08 and a 1 year high of $29.81. The stock has a market cap of $10.25 billion, a PE ratio of 10.17 and a beta of -0.44. The stock has a 50-day moving average price of $25.66 and a two-hundred day moving average price of $25.58.

Smithfield Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Thursday, August 13th. Smithfield Foods's payout ratio is currently 48.83%.

Analyst Ratings Changes

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

Smithfield Foods Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.