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 is set to end 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. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley started coverage on shares of Smithfield Foods in a report on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $27.86.

Smithfield Foods Stock Down 1.7%

Shares of SFD stock opened at $23.59 on Monday. Smithfield Foods has a 52-week low of $18.43 and a 52-week high of $24.68. The stock has a 50-day moving average price of $23.43. The company has a market cap of $9.27 billion and a P/E ratio of 10.39.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.56 billion. The company's revenue for the quarter was up 9.5% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.24%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's dividend payout ratio is presently 44.05%.

Institutional Trading of Smithfield Foods

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Capital LLC bought a new position in shares of Smithfield Foods in the 1st quarter worth $1,040,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Smithfield Foods in the 1st quarter worth about $213,000. Amalgamated Bank purchased a new stake in shares of Smithfield Foods in the 1st quarter worth about $28,000. DAVENPORT & Co LLC purchased a new stake in shares of Smithfield Foods in the 1st quarter worth about $2,587,000. Finally, American Capital Advisory LLC purchased a new position in Smithfield Foods during the 1st quarter valued at about $102,000.

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.

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