Walleye Capital LLC Cuts Stake in Smithfield Foods, Inc. $SFD

Walleye Capital LLC lessened its stake in shares of Smithfield Foods, Inc. (NASDAQ:SFDFree Report) by 71.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213,849 shares of the company’s stock after selling 531,115 shares during the quarter. Walleye Capital LLC owned 0.05% of Smithfield Foods worth $5,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. First Trust Advisors LP grew its stake in shares of Smithfield Foods by 2.7% in the first quarter. First Trust Advisors LP now owns 632,415 shares of the company’s stock valued at $17,689,000 after buying an additional 16,333 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in Smithfield Foods during the 1st quarter worth approximately $10,381,000. Parallel Advisors LLC boosted its holdings in Smithfield Foods by 106.1% in the 1st quarter. Parallel Advisors LLC now owns 4,797 shares of the company’s stock worth $134,000 after acquiring an additional 2,469 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Smithfield Foods in the 1st quarter worth approximately $7,829,000. Finally, Bank of New York Mellon Corp boosted its holdings in Smithfield Foods by 29.6% in the 1st quarter. Bank of New York Mellon Corp now owns 279,527 shares of the company’s stock worth $7,818,000 after acquiring an additional 63,824 shares during the period.

Smithfield Foods Price Performance

Shares of NASDAQ SFD opened at $26.44 on Thursday. The company has a quick ratio of 1.29, a current ratio of 2.41 and a debt-to-equity ratio of 0.20. Smithfield Foods, Inc. has a fifty-two week low of $21.08 and a fifty-two week high of $29.81. The business has a 50 day moving average price of $25.55 and a two-hundred day moving average price of $25.36. The firm has a market cap of $10.40 billion, a PE ratio of 10.33 and a beta of -0.41.

Smithfield Foods (NASDAQ:SFDGet Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 15.54% and a net margin of 6.48%.Smithfield Foods’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. Sell-side analysts expect that Smithfield Foods, Inc. will post 2.7 earnings per share for the current fiscal year.

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors 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 4.7%. The ex-dividend date was Thursday, May 14th. Smithfield Foods’s payout ratio is 48.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SFD shares. Weiss Ratings upgraded shares of Smithfield Foods from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Wall Street Zen lowered shares of Smithfield Foods from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley lifted their price target on shares of Smithfield Foods from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th. Finally, Barclays boosted their price objective on shares of Smithfield Foods from $30.00 to $32.00 and gave the stock 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.88.

View Our Latest Stock Analysis on Smithfield Foods

Smithfield Foods Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Smithfield Foods (NASDAQ:SFD)

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