Total Clarity Wealth Management Inc. Buys Shares of 17,766 Smithfield Foods, Inc. $SFD

Key Points

• Total Clarity Wealth Management Inc. has acquired a new stake in Smithfield Foods, Inc., purchasing 17,766 shares valued at approximately $418,000.
• The company recently announced a quarterly dividend of $0.25, resulting in an annualized yield of 4.7%.
• Smithfield Foods reported a quarterly earnings miss with earnings per share of $0.55, slightly below analysts' expectations, but had revenue of $3.79 billion, which exceeded estimates by 11.0% year-over-year.

Total Clarity Wealth Management Inc. bought a new stake in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,766 shares of the company's stock, valued at approximately $418,000.

A number of other hedge funds also recently added to or reduced their stakes in SFD. PNC Financial Services Group Inc. acquired a new stake in shares of Smithfield Foods in the first quarter valued at approximately $27,000. Amalgamated Bank acquired a new stake in shares of Smithfield Foods in the first quarter valued at approximately $28,000. CWM LLC acquired a new stake in shares of Smithfield Foods in the second quarter valued at approximately $30,000. Pacer Advisors Inc. acquired a new stake in shares of Smithfield Foods in the first quarter valued at approximately $34,000. Finally, Security National Bank acquired a new stake in shares of Smithfield Foods in the second quarter valued at approximately $67,000.

Smithfield Foods Stock Up 0.4%

Shares of Smithfield Foods stock opened at $21.24 on Tuesday. Smithfield Foods, Inc. has a fifty-two week low of $18.43 and a fifty-two week high of $26.07. The firm has a market cap of $8.35 billion and a PE ratio of 9.36. The business's fifty day moving average is $24.29 and its two-hundred day moving average is $23.16.

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 business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.62 billion. The company's revenue for the quarter was up 11.0% on a year-over-year basis.

Smithfield Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, August 14th. Smithfield Foods's dividend payout ratio (DPR) is 44.05%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Bank of America lowered their price target on shares of Smithfield Foods from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. Zacks Research lowered shares of Smithfield Foods from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Smithfield Foods in a research report on Wednesday, October 8th. Finally, Barclays boosted their price target on Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Smithfield Foods presently has an average rating of "Moderate Buy" and an average price target of $28.44.

Insiders Place Their Bets

In other news, insider Donovan Owens bought 12,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were acquired at an average cost of $23.25 per share, with a total value of $279,000.00. Following the transaction, the insider owned 77,000 shares of the company's stock, valued at $1,790,250. This represents a 18.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Doug Sutton bought 3,920 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $23.25 per share, for a total transaction of $91,140.00. Following the completion of the transaction, the insider directly owned 68,920 shares in the company, valued at approximately $1,602,390. This trade represents a 6.03% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,831,753 shares of company stock worth $42,588,257. Corporate insiders own 0.84% of the company's stock.

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.

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