Y Intercept Hong Kong Ltd Has $214,000 Stock Position in Smithfield Foods, Inc. $SFD

Y Intercept Hong Kong Ltd lessened its stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 90.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,118 shares of the company’s stock after selling 87,146 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Smithfield Foods were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Smithfield Foods in the second quarter worth about $31,295,000. Fourth Sail Capital LP purchased a new stake in shares of Smithfield Foods in the 2nd quarter valued at approximately $18,424,000. Systematic Financial Management LP boosted its stake in Smithfield Foods by 377.3% in the 2nd quarter. Systematic Financial Management LP now owns 653,717 shares of the company’s stock worth $15,382,000 after purchasing an additional 516,767 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Smithfield Foods in the 2nd quarter worth approximately $8,314,000. Finally, DAVENPORT & Co LLC grew its position in Smithfield Foods by 18.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock worth $8,102,000 after purchasing an additional 54,734 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SFD shares. Morgan Stanley set a $29.00 target price on Smithfield Foods and gave the company an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Finally, Wall Street Zen raised Smithfield Foods from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.31.

Smithfield Foods Stock Up 0.6%

Smithfield Foods stock opened at $24.57 on Friday. Smithfield Foods, Inc. has a 12 month low of $18.43 and a 12 month high of $26.07. The stock has a market cap of $9.66 billion and a P/E ratio of 11.07. The company’s fifty day simple moving average is $22.72 and its 200-day simple moving average is $23.14.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, November 13th. Smithfield Foods’s dividend payout ratio is presently 45.05%.

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.