Smithfield Foods, Inc. (NASDAQ:SFD) Announces Quarterly Dividend of $0.25

Smithfield Foods, Inc. (NASDAQ:SFD) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Thursday, August 14th will be paid a dividend of 0.25 per share on Thursday, August 28th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th.

Smithfield Foods has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings.

Smithfield Foods Price Performance

Shares of NASDAQ:SFD opened at $24.32 on Friday. The firm has a fifty day moving average price of $23.64. Smithfield Foods has a 52 week low of $18.43 and a 52 week high of $24.68. The firm has a market cap of $9.56 billion and a P/E ratio of 10.71.

Smithfield Foods (NASDAQ:SFD) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.56 billion. The business’s revenue was up 9.5% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SFD. Renaissance Capital LLC bought a new stake in Smithfield Foods during the 1st quarter worth approximately $1,040,000. Oppenheimer & Co. Inc. acquired a new position in Smithfield Foods in the first quarter worth $213,000. Amalgamated Bank acquired a new position in Smithfield Foods in the first quarter worth $28,000. DAVENPORT & Co LLC bought a new stake in shares of Smithfield Foods during the first quarter worth $2,587,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Smithfield Foods in the first quarter valued at $102,000.

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.