Smithfield Foods (NASDAQ:SFD) CFO Mark Hall Buys 2,000 Shares

Key Points

• Smithfield Foods CFO Mark Hall purchased 2,000 shares of the company's stock at an average price of $23.25, increasing his total holdings to 72,000 shares worth $1.67 million.
• Smithfield Foods reported earnings of $0.55 per share for the last quarter, missing analysts' estimates of $0.56, but exceeded revenue expectations with $3.79 billion.
• The company declared a quarterly dividend of $0.25, translating to an annualized dividend of $1.00, resulting in a dividend yield of 4.3%.

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) CFO Mark Hall bought 2,000 shares of Smithfield Foods 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 $46,500.00. Following the completion of the acquisition, the chief financial officer owned 72,000 shares in the company, valued at $1,674,000. This represents a 2.86% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Smithfield Foods Trading Down 0.7%

Shares of NASDAQ SFD traded down $0.16 during midday trading on Tuesday, reaching $23.33. 3,509,119 shares of the stock were exchanged, compared to its average volume of 847,136. The stock has a 50 day moving average price of $24.63 and a 200-day moving average price of $22.55. The company has a market capitalization of $9.17 billion and a P/E 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 announced its earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.01). The company had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.62 billion. The company's revenue for the quarter was up 11.0% on a year-over-year basis.

Smithfield Foods Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Smithfield Foods in the first quarter worth about $213,000. Teacher Retirement System of Texas purchased a new position in Smithfield Foods in the 1st quarter worth approximately $8,156,000. Amalgamated Bank purchased a new position in Smithfield Foods in the 1st quarter worth approximately $28,000. HBK Investments L P acquired a new stake in Smithfield Foods in the first quarter valued at approximately $4,078,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Smithfield Foods during the first quarter valued at approximately $255,000.

Analyst Ratings Changes

Several analysts have commented on SFD shares. UBS Group restated a "buy" rating and issued a $28.50 price target (up previously from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Barclays upped their price target 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. Morgan Stanley lifted their price target on shares of Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Finally, Zacks Research upgraded Smithfield Foods from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $28.44.

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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