Core Capital Management & Research inc. purchased a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 299,005 shares of the company’s stock, valued at approximately $6,656,000. Smithfield Foods makes up about 3.5% of Core Capital Management & Research inc.’s investment portfolio, making the stock its 6th largest position.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Engineers Gate Manager LP boosted its position in shares of Smithfield Foods by 2,584.3% in the 2nd quarter. Engineers Gate Manager LP now owns 351,055 shares of the company’s stock worth $8,517,000 after purchasing an additional 337,977 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Smithfield Foods during the 2nd quarter worth $157,000. IFP Advisors Inc increased its position in Smithfield Foods by 136.4% during the 2nd quarter. IFP Advisors Inc now owns 3,815 shares of the company’s stock valued at $93,000 after buying an additional 2,201 shares in the last quarter. Squarepoint Ops LLC raised its stake in Smithfield Foods by 144.9% in the second quarter. Squarepoint Ops LLC now owns 112,413 shares of the company’s stock valued at $2,727,000 after buying an additional 66,519 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Smithfield Foods by 196.5% in the second quarter. Allworth Financial LP now owns 3,018 shares of the company’s stock valued at $73,000 after buying an additional 2,000 shares during the last quarter.
Smithfield Foods Stock Performance
Shares of SFD stock opened at $20.52 on Thursday. The business has a fifty day moving average of $24.09 and a 200 day moving average of $25.36. Smithfield Foods, Inc. has a 1 year low of $20.36 and a 1 year high of $29.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.56 and a quick ratio of 1.34. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 7.66 and a beta of -0.51.
Smithfield Foods Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 6.1%. Smithfield Foods’s payout ratio is 46.64%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on SFD shares. Bank of America lowered their price target on Smithfield Foods from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Weiss Ratings lowered shares of Smithfield Foods from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Smithfield Foods in a research report on Wednesday, August 12th. Barclays lowered their target price on shares of Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Zacks Research lowered shares of Smithfield Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.00.
Check Out Our Latest Research Report on Smithfield Foods
Smithfield Foods 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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