Smithfield Foods, Inc. $SFD Stock Position Raised by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its holdings in Smithfield Foods, Inc. (NASDAQ:SFD) by 18.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,468 shares of the company’s stock after acquiring an additional 54,734 shares during the period. DAVENPORT & Co LLC owned about 0.09% of Smithfield Foods worth $8,102,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SFD. Oak Thistle LLC acquired a new stake in shares of Smithfield Foods during the 3rd quarter worth approximately $594,000. Osaic Holdings Inc. boosted its holdings in shares of Smithfield Foods by 24.6% during the second quarter. Osaic Holdings Inc. now owns 41,696 shares of the company’s stock valued at $981,000 after acquiring an additional 8,225 shares during the period. Orion Porfolio Solutions LLC bought a new position in shares of Smithfield Foods during the second quarter worth about $239,000. State of Wyoming acquired a new stake in shares of Smithfield Foods in the 2nd quarter worth about $363,000. Finally, Walnut Level Capital LLC lifted its position in Smithfield Foods by 129.6% in the 2nd quarter. Walnut Level Capital LLC now owns 114,800 shares of the company’s stock valued at $2,701,000 after purchasing an additional 64,800 shares during the last quarter.

Smithfield Foods Price Performance

SFD opened at $22.46 on Friday. The business has a 50 day moving average price of $21.93 and a two-hundred day moving average price of $23.27. The company has a market capitalization of $8.83 billion and a price-to-earnings ratio of 10.12. Smithfield Foods, Inc. has a 1-year low of $18.43 and a 1-year high of $26.07.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.58 billion. Smithfield Foods’s revenue was up 12.4% on a year-over-year basis.

Smithfield Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, November 13th. Smithfield Foods’s dividend payout ratio is presently 45.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Zacks Research cut shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a report on Monday. Morgan Stanley set a $29.00 target price on Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Bank of America reduced their price target on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.31.

Smithfield Foods Company Profile

Smithfield Foods, Inc (NASDAQ: SFD) is one of the world’s largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan’s Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.