36,806 Shares of Smithfield Foods, Inc. $SFD Bought by Leo Wealth LLC

Leo Wealth LLC bought a new stake in Smithfield Foods, Inc. (NASDAQ:SFD) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 36,806 shares of the company’s stock, valued at approximately $689,000.

Other large investors also recently made changes to their positions in the company. Altshuler Shaham Ltd boosted its holdings in shares of Smithfield Foods by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 1,524 shares of the company’s stock worth $43,000 after purchasing an additional 410 shares during the period. Capital Financial Group Inc. Co. ADV grew its position in Smithfield Foods by 5.8% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 10,863 shares of the company’s stock valued at $304,000 after purchasing an additional 600 shares in the last quarter. Group One Trading LLC acquired a new position in Smithfield Foods in the 1st quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Smithfield Foods in the 2nd quarter valued at approximately $29,000. Finally, Ancora Advisors LLC acquired a new position in Smithfield Foods in the 2nd quarter valued at approximately $43,000.

Smithfield Foods Trading Down 1.8%

Shares of NASDAQ SFD opened at $18.31 on Tuesday. The business has a 50 day simple moving average of $20.16 and a 200 day simple moving average of $24.09. Smithfield Foods, Inc. has a 52 week low of $18.09 and a 52 week high of $29.81. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 6.98 and a beta of -0.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 2.56.

Smithfield Foods (NASDAQ:SFD) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.70 billion for the quarter. Smithfield Foods had a net margin of 6.84% and a return on equity of 15.55%. Smithfield Foods’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. On average, research analysts predict that Smithfield Foods, Inc. will post 2.03 earnings per share for the current fiscal year.

Smithfield Foods Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a dividend of $0.3125 per share. The ex-dividend date was Thursday, August 13th. This represents a $1.25 annualized dividend and a dividend yield of 6.8%. Smithfield Foods’s dividend payout ratio is 46.64%.

Analysts Set New Price Targets

A number of research firms have issued reports on SFD. Barclays cut their target price on shares of Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Weiss Ratings cut shares of Smithfield Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 29th. Zacks Research cut shares of Smithfield Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Stephens began coverage on shares of Smithfield Foods in a research note on Wednesday, September 30th. They issued an “equal weight” rating and a $22.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $21.00 price objective on Smithfield Foods in a report on Friday, October 9th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Smithfield Foods has a consensus rating of “Hold” and a consensus target price of $26.00.

About Smithfield Foods

Smithfield Foods, Inc is a food company engaged in pork production and the manufacture and sale of packaged meats. Its operations include hog production, fresh pork processing, and the preparation of bacon, ham, sausage, hot dogs, deli meats and other ready-to-cook or ready-to-eat products.

The company sells products under brands that include Smithfield, Eckrich, Nathan’s Famous and Farmland, as well as through private-label and foodservice channels. Its products are distributed through grocery retailers, restaurants, foodservice operators and other commercial customers in the United States and international markets.

Founded in Smithfield, Virginia, in 1936, Smithfield Foods expanded through acquisitions and became one of the world’s largest pork processors and hog producers.