Smithfield Foods (NASDAQ:SFD) Sets New 12-Month High - Still a Buy?

Key Points

• Smithfield Foods shares reached a new 52-week high of $24.83 during trading, closing at $24.56 with a market capitalization of $9.78 billion.
• The company announced a quarterly dividend of $0.25 per share, with a yield of 4.0%, set to be paid on August 28th.
• Institutional investors have shown interest, with several firms acquiring stakes in Smithfield Foods during the second quarter, reflecting growing confidence in the company's performance.

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $24.83 and last traded at $24.56, with a volume of 116913 shares changing hands. The stock had previously closed at $24.32.

Smithfield Foods Price Performance

The firm's fifty day simple moving average is $23.87. The company has a market cap of $10.04 billion and a PE ratio of 11.25.

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors and hedge funds have recently modified their holdings of SFD. PNC Financial Services Group Inc. bought a new position in shares of Smithfield Foods during the first quarter valued at $27,000. Amalgamated Bank bought a new position in shares of Smithfield Foods during the first quarter valued at $28,000. CWM LLC purchased a new stake in shares of Smithfield Foods during the second quarter valued at $30,000. Pacer Advisors Inc. purchased a new stake in shares of Smithfield Foods during the first quarter valued at $34,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Smithfield Foods during the second quarter valued at $55,000.

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.