Smithfield Foods, Inc. $SFD Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 94.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,244 shares of the company’s stock after selling 112,971 shares during the period. Sterling Capital Management LLC’s holdings in Smithfield Foods were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Diversify Advisory Services LLC grew its holdings in Smithfield Foods by 128.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 32,753 shares of the company’s stock valued at $605,000 after buying an additional 18,427 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Smithfield Foods during the third quarter worth $439,000. CWA Asset Management Group LLC lifted its holdings in shares of Smithfield Foods by 11.7% during the third quarter. CWA Asset Management Group LLC now owns 69,900 shares of the company’s stock worth $1,309,000 after buying an additional 7,319 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Smithfield Foods by 210.2% during the third quarter. IFP Advisors Inc now owns 11,836 shares of the company’s stock worth $222,000 after buying an additional 8,021 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of Smithfield Foods during the third quarter worth $996,000.

Analyst Upgrades and Downgrades

SFD has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $21.00 price target on shares of Smithfield Foods in a research note on Friday, October 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Smithfield Foods in a research note on Wednesday, August 12th. Stephens reiterated a “reduce” rating on shares of Smithfield Foods in a research note on Wednesday. Zacks Research downgraded shares of Smithfield Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Barclays decreased their target price on shares of Smithfield Foods from $29.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.67.

Smithfield Foods Stock Performance

SFD opened at $18.34 on Monday. The firm has a market cap of $7.22 billion, a P/E ratio of 8.04 and a beta of -0.39. Smithfield Foods, Inc. has a 52-week low of $17.91 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.20 and a current ratio of 2.39. The business’s fifty day moving average is $19.75 and its 200-day moving average is $24.00.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $3.44 billion during the quarter. Smithfield Foods had a return on equity of 13.41% and a net margin of 5.94%. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.58 EPS. Sell-side analysts expect that Smithfield Foods, Inc. will post 1.77 EPS for the current fiscal year.

Smithfield Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Thursday, November 12th. Smithfield Foods’s dividend payout ratio is presently 54.82%.

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.