Systematic Financial Management LP Acquires Shares of 136,950 Smithfield Foods, Inc. $SFD

Key Points

• Systematic Financial Management LP has acquired a new stake in Smithfield Foods, Inc., purchasing 136,950 shares valued at approximately $2.79 million in the first quarter.
• Various hedge funds have also invested in Smithfield Foods, with notable purchases including Teacher Retirement System of Texas at $8.16 million and Oppenheimer & Co. Inc. at $213,000.
• Smithfield Foods reported a quarterly earnings per share of $0.55, falling short of analysts' expectations, while also increasing revenue year-over-year by 11.0% to $3.79 billion.

Systematic Financial Management LP purchased a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 136,950 shares of the company's stock, valued at approximately $2,792,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new position in Smithfield Foods in the 1st quarter valued at about $27,000. Amalgamated Bank acquired a new position in Smithfield Foods in the 1st quarter valued at about $28,000. Pacer Advisors Inc. acquired a new position in Smithfield Foods in the 1st quarter valued at about $34,000. Deutsche Bank AG acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $74,000. Finally, American Capital Advisory LLC acquired a new position in shares of Smithfield Foods during the 1st quarter worth approximately $102,000.

Smithfield Foods Stock Up 0.5%

NASDAQ SFD traded up $0.12 on Friday, hitting $25.58. The company's stock had a trading volume of 256,818 shares, compared to its average volume of 731,768. Smithfield Foods, Inc. has a 1-year low of $18.43 and a 1-year high of $26.07. The company's 50-day moving average is $24.46 and its 200 day moving average is $22.38. The firm has a market cap of $10.06 billion and a PE ratio of 11.27.

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 for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.62 billion. The firm's revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Wall Street Analysts Forecast Growth

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