Invesco Ltd. Takes Position in Smithfield Foods, Inc. $SFD

Invesco Ltd. purchased a new stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 67,695 shares of the company’s stock, valued at approximately $1,380,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of Smithfield Foods during the 1st quarter valued at $27,000. Amalgamated Bank bought a new position in shares of Smithfield Foods during the 1st quarter valued at $28,000. Pacer Advisors Inc. bought a new position in shares of Smithfield Foods during the 1st quarter valued at $34,000. Deutsche Bank AG bought a new position in shares of Smithfield Foods during the 1st quarter valued at $74,000. Finally, American Capital Advisory LLC bought a new position in shares of Smithfield Foods during the 1st quarter valued at $102,000.

Smithfield Foods Stock Performance

Shares of Smithfield Foods stock opened at $25.43 on Tuesday. The stock’s fifty day moving average is $24.53 and its 200 day moving average is $22.45. The stock has a market cap of $10.00 billion and a P/E ratio of 11.20. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $26.07.

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

Smithfield Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Smithfield Foods’s dividend payout ratio (DPR) is currently 44.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SFD. Barclays increased their price target on Smithfield Foods from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley increased their price target on Smithfield Foods from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. Zacks Research raised Smithfield Foods from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. Finally, UBS Group reaffirmed a “buy” rating and issued a $28.50 target price (up from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.44.

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.