Nisa Investment Advisors LLC Invests $255,000 in Smithfield Foods, Inc. (NASDAQ:SFD)

Nisa Investment Advisors LLC purchased a new stake in Smithfield Foods, Inc. (NASDAQ:SFD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,500 shares of the company’s stock, valued at approximately $255,000.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $8,156,000. DAVENPORT & Co LLC purchased a new stake in shares of Smithfield Foods during the 1st quarter worth approximately $2,587,000. Renaissance Capital LLC purchased a new stake in shares of Smithfield Foods during the 1st quarter worth approximately $1,040,000. Bank of New York Mellon Corp purchased a new stake in shares of Smithfield Foods during the 1st quarter worth approximately $591,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Smithfield Foods during the 1st quarter valued at $213,000.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley started coverage on Smithfield Foods in a research report on Tuesday, March 25th. They set an “overweight” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $27.86.

Smithfield Foods Price Performance

SFD stock opened at $23.99 on Friday. The company has a fifty day moving average price of $23.41. Smithfield Foods, Inc. has a 12-month low of $18.43 and a 12-month high of $24.68. The stock has a market cap of $9.43 billion and a P/E ratio of 10.57.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 earnings per share 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 analyst estimates of $3.56 billion. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis.

Smithfield Foods Dividend Announcement

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

Smithfield Foods 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.