Y Intercept Hong Kong Ltd lowered its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD – Free Report) by 63.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,584 shares of the company’s stock after selling 29,040 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Smithfield Foods were worth $464,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Parallel Advisors LLC lifted its stake in Smithfield Foods by 46.2% in the fourth quarter. Parallel Advisors LLC now owns 2,328 shares of the company’s stock valued at $52,000 after buying an additional 736 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Smithfield Foods by 1.1% during the 3rd quarter. Verition Fund Management LLC now owns 68,812 shares of the company’s stock worth $1,616,000 after buying an additional 739 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Smithfield Foods during the 4th quarter worth approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Smithfield Foods during the 2nd quarter worth approximately $29,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Smithfield Foods by 6.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,604 shares of the company’s stock worth $461,000 after buying an additional 1,320 shares during the period.
Smithfield Foods Price Performance
Shares of NASDAQ SFD opened at $24.69 on Wednesday. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of 9.64 and a beta of -0.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.29 and a current ratio of 2.41. Smithfield Foods, Inc. has a fifty-two week low of $21.08 and a fifty-two week high of $29.81. The firm’s 50-day simple moving average is $25.54 and its 200 day simple moving average is $25.21.
Smithfield Foods Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Thursday, May 14th. Smithfield Foods’s dividend payout ratio (DPR) is presently 48.83%.
Analyst Ratings Changes
SFD has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Smithfield Foods from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Zacks Research cut shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Bank of America decreased their price target on shares of Smithfield Foods from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Wall Street Zen downgraded shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Barclays upped their price objective on shares of Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.88.
Check Out Our Latest Analysis on Smithfield Foods
Smithfield Foods Company Profile
Smithfield Foods, Inc (NASDAQ: SFD) is one of the world’s largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan’s Famous® and Eckrich®.
Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.
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