Bank of New York Mellon Corp Takes Position in Smithfield Foods, Inc. (NASDAQ:SFD)

Bank of New York Mellon Corp bought a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,963 shares of the company’s stock, valued at approximately $591,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Renaissance Capital LLC purchased a new stake in Smithfield Foods in the first quarter worth about $1,040,000. Oppenheimer & Co. Inc. purchased a new position in shares of Smithfield Foods in the 1st quarter valued at approximately $213,000. Amalgamated Bank bought a new stake in shares of Smithfield Foods during the first quarter valued at approximately $28,000. DAVENPORT & Co LLC purchased a new stake in Smithfield Foods in the first quarter worth $2,587,000. Finally, American Capital Advisory LLC purchased a new stake in Smithfield Foods in the first quarter worth $102,000.

Smithfield Foods Price Performance

Shares of Smithfield Foods stock opened at $24.32 on Friday. Smithfield Foods, Inc. has a 12 month low of $18.43 and a 12 month high of $24.68. The stock has a market capitalization of $9.56 billion and a price-to-earnings ratio of 10.71. The firm’s fifty day moving average price is $23.64.

Smithfield Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th. 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.