SG Americas Securities LLC Sells 93,415 Shares of Smithfield Foods, Inc. $SFD

SG Americas Securities LLC decreased its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 93.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,247 shares of the company’s stock after selling 93,415 shares during the quarter. SG Americas Securities LLC’s holdings in Smithfield Foods were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SFD. Royal Bank of Canada bought a new stake in Smithfield Foods during the 1st quarter worth about $1,456,000. Goldman Sachs Group Inc. acquired a new stake in shares of Smithfield Foods in the first quarter valued at about $3,195,000. DAVENPORT & Co LLC raised its holdings in Smithfield Foods by 129.2% during the second quarter. DAVENPORT & Co LLC now owns 290,734 shares of the company’s stock worth $6,798,000 after acquiring an additional 163,860 shares in the last quarter. CWM LLC acquired a new position in Smithfield Foods during the second quarter valued at approximately $30,000. Finally, Total Clarity Wealth Management Inc. bought a new position in Smithfield Foods in the second quarter valued at approximately $418,000.

Analyst Ratings Changes

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

Smithfield Foods Price Performance

NASDAQ:SFD opened at $23.90 on Friday. The company has a market cap of $9.40 billion and a P/E ratio of 10.77. The firm’s fifty day moving average price is $22.48 and its two-hundred day moving average price is $23.13. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $26.07.

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

Smithfield Foods Announces Dividend

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