Hsbc Holdings PLC reduced its stake in Smithfield Foods, Inc. (NASDAQ:SFD – Free Report) by 38.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,717 shares of the company’s stock after selling 63,533 shares during the quarter. Hsbc Holdings PLC’s holdings in Smithfield Foods were worth $2,821,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of Smithfield Foods by 94.0% in the third quarter. Millennium Management LLC now owns 3,634,709 shares of the company’s stock valued at $85,343,000 after purchasing an additional 1,760,713 shares during the last quarter. Zimmer Partners LP boosted its holdings in Smithfield Foods by 13.8% during the fourth quarter. Zimmer Partners LP now owns 2,090,000 shares of the company’s stock worth $46,670,000 after purchasing an additional 253,286 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Smithfield Foods by 653.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,664,585 shares of the company’s stock worth $39,084,000 after purchasing an additional 1,443,605 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Smithfield Foods by 28.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,560,647 shares of the company’s stock valued at $34,849,000 after buying an additional 348,503 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Smithfield Foods by 8.3% in the 4th quarter. Deutsche Bank AG now owns 1,431,029 shares of the company’s stock valued at $31,955,000 after buying an additional 109,254 shares during the last quarter.
Analysts Set New Price Targets
SFD has been the topic of several research analyst reports. Weiss Ratings raised Smithfield Foods from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Barclays raised their target price on Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Smithfield Foods from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Zacks Research downgraded shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Bank of America dropped their target price on shares of Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.
Smithfield Foods Stock Performance
NASDAQ:SFD opened at $26.26 on Friday. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 10.26 and a beta of -0.41. The business has a 50 day moving average of $25.60 and a 200 day moving average of $25.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.41 and a quick ratio of 1.29. Smithfield Foods, Inc. has a 1-year low of $21.08 and a 1-year high of $29.81.
Smithfield Foods (NASDAQ:SFD – Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.58 by $0.06. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.74 billion. Smithfield Foods had a net margin of 6.48% and a return on equity of 15.54%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Smithfield Foods, Inc. will post 2.7 earnings per share for the current fiscal year.
Smithfield Foods Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, May 14th. Smithfield Foods’s payout ratio is 48.83%.
About Smithfield Foods
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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