Fourth Sail Capital LP Takes Position in Smithfield Foods, Inc. $SFD

Fourth Sail Capital LP bought a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 782,981 shares of the company’s stock, valued at approximately $18,424,000. Smithfield Foods comprises about 3.8% of Fourth Sail Capital LP’s investment portfolio, making the stock its 11th largest holding. Fourth Sail Capital LP owned about 0.20% of Smithfield Foods as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SFD. Bank of New York Mellon Corp purchased a new stake in Smithfield Foods in the first quarter worth $591,000. Nisa Investment Advisors LLC bought a new position in Smithfield Foods in the 1st quarter worth $255,000. New York State Common Retirement Fund purchased a new stake in shares of Smithfield Foods in the 1st quarter worth about $110,000. Readystate Asset Management LP bought a new stake in shares of Smithfield Foods during the 1st quarter valued at about $7,784,000. Finally, Templeton & Phillips Capital Management LLC bought a new stake in shares of Smithfield Foods during the 1st quarter valued at about $408,000.

Smithfield Foods Trading Down 0.2%

Smithfield Foods stock opened at $21.84 on Monday. Smithfield Foods, Inc. has a 12-month low of $18.43 and a 12-month high of $26.07. The firm has a market capitalization of $8.59 billion and a price-to-earnings ratio of 9.84. The firm has a 50 day moving average of $22.93 and a 200 day moving average of $23.44.

Smithfield Foods (NASDAQ:SFD) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.58 billion. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Thursday, November 13th. Smithfield Foods’s dividend payout ratio is currently 45.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Zacks Research cut Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Barclays lifted their price target on Smithfield Foods from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 13th. Morgan Stanley set a $29.00 price target on shares of Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings upgraded Smithfield Foods from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Bank of America decreased their price target on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Smithfield Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.31.

Insider Transactions at Smithfield Foods

In related news, insider Donovan Owens purchased 12,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were acquired at an average cost of $23.25 per share, for a total transaction of $279,000.00. Following the acquisition, the insider owned 77,000 shares of the company’s stock, valued at $1,790,250. The trade was a 18.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keller D. Watts acquired 3,833 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average cost of $23.25 per share, for a total transaction of $89,117.25. Following the transaction, the insider owned 74,857 shares of the company’s stock, valued at $1,740,425.25. This represents a 5.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 1,831,753 shares of company stock worth $42,588,257 in the last quarter. Company insiders own 0.84% 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.