SG Americas Securities LLC Has $147,000 Stake in Smithfield Foods, Inc. $SFD

SG Americas Securities LLC trimmed its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 93.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,247 shares of the company’s stock after selling 93,415 shares during the period. SG Americas Securities LLC’s holdings in Smithfield Foods were worth $147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Smithfield Foods during the 2nd quarter valued at $31,295,000. Fourth Sail Capital LP acquired a new stake in shares of Smithfield Foods during the second quarter worth $18,424,000. Systematic Financial Management LP increased its holdings in Smithfield Foods by 377.3% in the second quarter. Systematic Financial Management LP now owns 653,717 shares of the company’s stock valued at $15,382,000 after purchasing an additional 516,767 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Smithfield Foods in the second quarter valued at about $8,314,000. Finally, Kennedy Capital Management LLC bought a new position in Smithfield Foods during the second quarter worth about $6,422,000.

Wall Street Analyst Weigh In

SFD has been the subject of a number of recent analyst reports. Bank of America lowered their price target on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Smithfield Foods from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley set a $29.00 target price on shares of Smithfield Foods and gave the stock an “overweight” rating in a report on Thursday, October 16th. Zacks Research lowered shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Smithfield Foods has an average rating of “Moderate Buy” and a consensus target price of $28.31.

Smithfield Foods Stock Up 0.7%

Smithfield Foods stock opened at $23.90 on Friday. The company has a 50 day moving average of $22.48 and a 200-day moving average of $23.13. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $26.07. The stock has a market capitalization of $9.40 billion and a PE ratio of 10.77.

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

Smithfield Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. Smithfield Foods’s dividend payout ratio (DPR) is presently 45.05%.

Smithfield Foods 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.