Smithfield Foods (NASDAQ:SFD) Insider Acquires $91,140.00 in Stock

Smithfield Foods, Inc. (NASDAQ:SFD) insider Doug Sutton acquired 3,920 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $23.25 per share, for a total transaction of $91,140.00. Following the completion of the acquisition, the insider owned 68,920 shares in the company, valued at approximately $1,602,390. This trade represents a 6.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Smithfield Foods Stock Performance

Shares of NASDAQ:SFD opened at $24.16 on Thursday. The company has a market cap of $9.50 billion and a P/E ratio of 10.64. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $26.07. The business’s 50-day simple moving average is $24.61 and its 200 day simple moving average is $22.57.

Smithfield Foods (NASDAQ:SFD) last announced its earnings results on Tuesday, August 12th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.62 billion. The company’s quarterly revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Thursday, August 14th. Smithfield Foods’s dividend payout ratio (DPR) is presently 44.05%.

Analysts Set New Price Targets

SFD has been the topic of several analyst reports. UBS Group reiterated a “buy” rating and set a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Zacks Research upgraded Smithfield Foods from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Morgan Stanley raised their target price on Smithfield Foods from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Finally, Barclays raised their target price on Smithfield Foods from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.44.

Institutional Investors Weigh In On Smithfield Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in Smithfield Foods by 24.6% during the 2nd quarter. Osaic Holdings Inc. now owns 41,696 shares of the company’s stock worth $981,000 after purchasing an additional 8,225 shares during the last quarter. Orion Porfolio Solutions LLC purchased a new stake in Smithfield Foods during the 2nd quarter worth approximately $239,000. State of Wyoming purchased a new stake in Smithfield Foods during the 2nd quarter worth approximately $363,000. Walnut Level Capital LLC increased its holdings in Smithfield Foods by 129.6% during the 2nd quarter. Walnut Level Capital LLC now owns 114,800 shares of the company’s stock worth $2,701,000 after purchasing an additional 64,800 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Smithfield Foods in the 2nd quarter worth approximately $2,676,000.

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.