Smithfield Foods, Inc. (NASDAQ:SFD) Declares $0.25 Quarterly Dividend

Smithfield Foods, Inc. (NASDAQ:SFD) declared a quarterly dividend on Monday, November 3rd, NASDAQ Dividends reports. Investors of record on Thursday, November 13th will be paid a dividend of 0.25 per share on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Thursday, November 13th.

Smithfield Foods has a payout ratio of 43.5% meaning its dividend is sufficiently covered by earnings.

Smithfield Foods Stock Performance

Smithfield Foods stock traded down $0.21 during midday trading on Monday, reaching $21.95. The stock had a trading volume of 2,070,222 shares, compared to its average volume of 924,701. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $26.07. The stock has a market capitalization of $8.63 billion and a PE ratio of 9.89. The stock’s 50-day simple moving average is $23.30 and its 200 day simple moving average is $23.38.

Smithfield Foods (NASDAQ:SFD) last issued its earnings results on Tuesday, October 28th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.58 billion. The company’s quarterly revenue was up 12.4% compared to the same quarter last year.

Analysts Set New Price Targets

SFD has been the topic of a number of analyst reports. Weiss Ratings lowered Smithfield Foods from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Zacks Research lowered Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $29.00 target price on Smithfield Foods and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Bank of America dropped their target price on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Finally, Barclays boosted their price objective on Smithfield Foods from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.31.

About Smithfield Foods

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.