Mark L. Hall Purchases 2,000 Shares of Smithfield Foods (NASDAQ:SFD) Stock

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 L. Hall bought 2,000 shares of Smithfield Foods stock in a transaction dated Monday, September 8th. The shares were bought at an average cost 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Smithfield Foods Price Performance

Shares of SFD stock traded down $0.09 on Friday, hitting $24.43. 1,406,723 shares of the company's stock were exchanged, compared to its average volume of 1,835,689. Smithfield Foods, Inc. has a 12 month low of $18.43 and a 12 month high of $26.07. The stock has a market cap of $9.60 billion and a P/E ratio of 10.76. The company has a 50 day moving average of $24.61 and a 200 day moving average of $22.64.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.62 billion. The firm's quarterly revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Thursday, August 14th. Smithfield Foods's payout ratio is presently 44.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SFD shares. Morgan Stanley increased their price target on Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Barclays upped their target price on Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. Zacks Research upgraded Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, UBS Group reiterated a "buy" rating and issued a $28.50 price objective (up previously from $25.00) on shares of Smithfield Foods in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $28.44.

Hedge Funds Weigh In On Smithfield Foods

A number of hedge funds and other institutional investors have recently made changes to their positions in SFD. Zimmer Partners LP purchased a new stake in shares of Smithfield Foods in the first quarter worth $56,087,000. Millennium Management LLC bought a new position in Smithfield Foods during the 1st quarter valued at about $46,687,000. Park West Asset Management LLC bought a new position in Smithfield Foods during the 1st quarter valued at about $35,621,000. Norges Bank bought a new position in Smithfield Foods during the 2nd quarter valued at about $31,295,000. Finally, Alberta Investment Management Corp bought a new position in Smithfield Foods during the 1st quarter valued at about $25,488,000.

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.