Smithfield Foods (NASDAQ:SFD) Releases Quarterly Earnings Results

Key Points

• Smithfield Foods reported earnings of $0.55 per share for the quarter, missing the consensus estimate of $0.56 by $0.01, despite a revenue increase of 11.0% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, representing a yield of 4.1% with a payout ratio of 44.05%.
• During the past quarters, several institutional investors have purchased shares, including Royal Bank of Canada and Goldman Sachs Group Inc., highlighting growing interest in Smithfield Foods.

Smithfield Foods (NASDAQ:SFD - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01), Zacks reports. The company's quarterly revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Price Performance

SFD opened at $24.60 on Tuesday. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $25.85. The business's 50-day moving average price is $23.91. The company has a market capitalization of $9.67 billion and a PE ratio of 10.84.

Smithfield Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.00 annualized dividend and a yield of 4.1%. Smithfield Foods's dividend payout ratio is currently 44.05%.

Institutional Investors Weigh In On Smithfield Foods

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in Smithfield Foods during the second quarter worth about $485,000. Royal Bank of Canada bought a new stake in Smithfield Foods during the first quarter worth about $1,456,000. Finally, Goldman Sachs Group Inc. bought a new stake in Smithfield Foods during the first quarter worth about $3,195,000.

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.

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