Insider Buying: Smithfield Foods (NASDAQ:SFD) Insider Acquires 3,833 Shares of Stock

Key Points

• Insider Keller Watts acquired 3,833 shares of Smithfield Foods stock at an average price of $23.25 per share, totaling approximately $89,117.
• Smithfield Foods recently reported earnings of $0.55 per share, slightly below analysts' expectations, but achieved a revenue of $3.79 billion, exceeding projections and representing an 11% year-over-year increase.
• The company declared a quarterly dividend of $0.25 per share, equating to an annual yield of 4.3% and a payout ratio of 44.05%.

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) insider Keller Watts purchased 3,833 shares of the business's stock in a transaction on Monday, September 8th. The stock was purchased at an average price of $23.25 per share, for a total transaction of $89,117.25. Following the acquisition, the insider owned 74,857 shares of the company's stock, valued at approximately $1,740,425.25. This represents a 5.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Smithfield Foods Stock Down 0.7%

NASDAQ:SFD traded down $0.16 on Tuesday, hitting $23.33. The stock had a trading volume of 3,509,119 shares, compared to its average volume of 847,136. The business's fifty day moving average is $24.63 and its 200 day moving average is $22.55. The company has a market cap of $9.17 billion and a PE ratio of 10.28. Smithfield Foods, Inc. has a 52 week low of $18.43 and a 52 week high of $26.07.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its 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 firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.62 billion. The business's revenue for the quarter was up 11.0% on a year-over-year basis.

Smithfield Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's dividend payout ratio (DPR) is currently 44.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group reaffirmed a "buy" rating and set a $28.50 price target (up from $25.00) on shares of Smithfield Foods in a research report on Wednesday, August 13th. Zacks Research raised Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Morgan Stanley increased their price target on Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Finally, Barclays increased their price target on Smithfield Foods from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Smithfield Foods presently has a consensus rating of "Buy" and a consensus price target of $28.44.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Zimmer Partners LP purchased a new stake in Smithfield Foods during the 1st quarter valued at $56,087,000. Millennium Management LLC purchased a new stake in shares of Smithfield Foods in the 1st quarter worth $46,687,000. Park West Asset Management LLC purchased a new stake in shares of Smithfield Foods in the 1st quarter worth $35,621,000. Norges Bank purchased a new stake in shares of Smithfield Foods in the 2nd quarter worth $31,295,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Smithfield Foods in the 1st quarter worth $25,488,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.