Amalgamated Bank Invests $28,000 in Smithfield Foods, Inc. (NASDAQ:SFD)

Amalgamated Bank acquired a new stake in Smithfield Foods, Inc. (NASDAQ:SFD) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,357 shares of the company’s stock, valued at approximately $28,000.

Separately, Renaissance Capital LLC bought a new position in Smithfield Foods in the first quarter valued at about $1,040,000.

Smithfield Foods Stock Down 0.7%

Shares of SFD opened at $23.96 on Friday. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $24.68. The company has a market capitalization of $9.42 billion and a P/E ratio of 10.56. The business’s 50-day moving average is $23.31.

Smithfield Foods (NASDAQ:SFD) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.56 billion. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.17%. Smithfield Foods’s dividend payout ratio (DPR) is 44.05%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley assumed coverage on Smithfield Foods in a research note on Tuesday, March 25th. They set an “overweight” rating and a $28.00 price target on the stock. Hsbc Global Res raised Smithfield Foods to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, HSBC assumed coverage on Smithfield Foods in a research note on Tuesday, March 18th. They set a “buy” rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.86.

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.