Smithfield Foods (NASDAQ:SFD) Issues Earnings Results

Smithfield Foods (NASDAQ:SFD) issued its quarterly earnings results on Tuesday. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01), Zacks reports. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.91 billion.

Smithfield Foods Trading Up 3.0 %

Shares of SFD stock opened at $19.71 on Thursday. Smithfield Foods has a one year low of $18.43 and a one year high of $22.03. The firm has a market capitalization of $7.75 billion and a P/E ratio of 8.68.

Smithfield Foods Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 10th. Smithfield Foods’s dividend payout ratio (DPR) is presently 44.05%.

Analyst Upgrades and Downgrades

SFD has been the topic of several research analyst reports. Citigroup began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Barclays began coverage on shares of Smithfield Foods in a report on Monday, February 24th. They set an “overweight” rating and a $28.00 price objective on the stock. HSBC started coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They issued a “buy” rating and a $29.00 target price for the company. The Goldman Sachs Group started coverage on Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating and a $32.00 price target on the stock. Finally, Morgan Stanley initiated coverage on Smithfield Foods in a report on Tuesday. They issued an “overweight” rating and a $28.00 price target for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Smithfield Foods currently has an average rating of “Buy” and an average price target of $27.86.

Insider Activity

In related news, insider Tennille J. Checkovich purchased 2,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price of $20.00 per share, with a total value of $40,000.00. Following the completion of the acquisition, the insider now directly owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hank Shenghua He acquired 17,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the director now directly owns 77,000 shares in the company, valued at approximately $1,540,000. The trade was a 28.33 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 59,000 shares of company stock worth $1,180,000. Corporate insiders own 1.79% of the company’s stock.

About Smithfield Foods

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.