Smithfield Foods (NASDAQ:SFD) Issues Earnings Results

Smithfield Foods (NASDAQ:SFD - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11, Zacks reports. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.56 billion. The company's revenue was up 9.5% on a year-over-year basis.

Smithfield Foods Price Performance

NASDAQ:SFD traded up $0.98 during mid-day trading on Friday, reaching $22.98. 1,278,714 shares of the company's stock traded hands, compared to its average volume of 850,468. The firm's 50 day moving average is $20.06. The firm has a market cap of $9.03 billion and a price-to-earnings ratio of 10.12. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $23.05.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.35%. Smithfield Foods's dividend payout ratio is currently 44.05%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Morgan Stanley began coverage on shares of Smithfield Foods in a research report on Tuesday, March 25th. They set an "overweight" rating and a $28.00 price target on the stock. Barclays initiated coverage on shares of Smithfield Foods in a report on Monday, February 24th. They set an "overweight" rating and a $28.00 target price on the stock. Hsbc Global Res raised shares of Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. UBS Group began coverage on Smithfield Foods in a research note on Monday, February 24th. They set a "buy" rating on the stock. Finally, Citigroup started coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $27.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $27.86.

Insiders Place Their Bets

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the completion of the transaction, the insider now directly owns 364,518,817 shares in the company, valued at approximately $7,290,376,340. This represents a 0.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.79% of the company's stock.

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.