Smithfield Foods, Inc.'s Lock-Up Period Set To Expire on July 28th (NASDAQ:SFD)

Smithfield Foods' (NASDAQ:SFD - Get Free Report) lock-up period will expire on Monday, July 28th. Smithfield Foods had issued 26,086,958 shares in its initial public offering on January 28th. The total size of the offering was $521,739,160 based on an initial share price of $20.00. After the expiration of Smithfield Foods' lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Smithfield Foods Trading Down 0.6%

Shares of NASDAQ SFD traded down $0.14 during midday trading on Thursday, hitting $23.79. 813,194 shares of the company's stock were exchanged, compared to its average volume of 591,696. The firm has a fifty day moving average price of $23.52. The stock has a market capitalization of $9.35 billion and a P/E ratio of 10.48. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $24.68.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.11. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.56 billion. Smithfield Foods's revenue for the quarter was up 9.5% on a year-over-year basis.

Smithfield Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's payout ratio is presently 44.05%.

Institutional Investors Weigh In On Smithfield Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. bought a new stake in Smithfield Foods in the 1st quarter worth $213,000. Teacher Retirement System of Texas bought a new stake in shares of Smithfield Foods in the first quarter worth about $8,156,000. Amalgamated Bank purchased a new position in Smithfield Foods during the 1st quarter valued at about $28,000. Nisa Investment Advisors LLC purchased a new position in Smithfield Foods during the 1st quarter valued at about $255,000. Finally, DAVENPORT & Co LLC bought a new position in Smithfield Foods during the 1st quarter valued at approximately $2,587,000.

About Smithfield Foods

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.