Tudor Investment Corp ET AL Invests $4.74 Million in Smithfield Foods, Inc. $SFD

Tudor Investment Corp ET AL bought a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 201,678 shares of the company’s stock, valued at approximately $4,735,000. Tudor Investment Corp ET AL owned about 0.05% of Smithfield Foods at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SFD. Royal Bank of Canada bought a new stake in shares of Smithfield Foods during the first quarter worth $1,456,000. Goldman Sachs Group Inc. bought a new stake in shares of Smithfield Foods during the first quarter worth $3,195,000. Cetera Investment Advisers bought a new stake in shares of Smithfield Foods during the second quarter worth $485,000. JPMorgan Chase & Co. lifted its position in shares of Smithfield Foods by 7,016.0% during the second quarter. JPMorgan Chase & Co. now owns 36,363 shares of the company’s stock worth $856,000 after purchasing an additional 35,852 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Smithfield Foods by 267.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 53,025 shares of the company’s stock worth $1,248,000 after purchasing an additional 38,580 shares during the last quarter.

Smithfield Foods Price Performance

SFD stock opened at $29.16 on Thursday. The business has a 50-day moving average price of $25.04 and a 200 day moving average price of $23.27. The company has a market capitalization of $11.47 billion, a P/E ratio of 11.62 and a beta of -0.33. Smithfield Foods, Inc. has a 1-year low of $18.55 and a 1-year high of $29.27.

Smithfield Foods (NASDAQ:SFD) last released its quarterly earnings data on Tuesday, March 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.16. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.19 billion. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share.

Smithfield Foods Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 21st. Investors of record on Tuesday, April 7th will be issued a $0.3125 dividend. The ex-dividend date is Tuesday, April 7th. This is an increase from Smithfield Foods’s previous quarterly dividend of $0.25. This represents a $1.25 annualized dividend and a dividend yield of 4.3%. Smithfield Foods’s dividend payout ratio is presently 39.84%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SFD shares. Zacks Research upgraded Smithfield Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 25th. Wall Street Zen upgraded Smithfield Foods from a “hold” rating to a “buy” rating in a research report on Sunday, March 29th. Weiss Ratings upgraded Smithfield Foods from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. Finally, Morgan Stanley lifted their target price on Smithfield Foods from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $29.38.

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.