State of Alaska Department of Revenue Purchases Shares of 140,000 Smithfield Foods, Inc. $SFD

State of Alaska Department of Revenue acquired a new position in Smithfield Foods, Inc. (NASDAQ:SFD) during the third quarter, Holdings Channel reports. The institutional investor acquired 140,000 shares of the company’s stock, valued at approximately $3,287,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. bought a new position in Smithfield Foods during the first quarter worth $3,195,000. Prudential Financial Inc. grew its position in Smithfield Foods by 1,029.5% in the 2nd quarter. Prudential Financial Inc. now owns 172,420 shares of the company’s stock worth $4,057,000 after purchasing an additional 157,155 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Smithfield Foods during the 2nd quarter worth about $419,000. Rhumbline Advisers acquired a new position in shares of Smithfield Foods during the first quarter valued at about $394,000. Finally, Fourth Sail Capital LP bought a new stake in shares of Smithfield Foods in the second quarter valued at about $18,424,000.

Smithfield Foods Trading Up 1.2%

Shares of SFD opened at $22.75 on Tuesday. The stock has a market cap of $8.94 billion and a PE ratio of 10.25. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07. The stock has a 50 day simple moving average of $21.99 and a 200-day simple moving average of $23.17.

Smithfield Foods (NASDAQ:SFD) last announced its quarterly 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 company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.58 billion. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, November 13th. Smithfield Foods’s dividend payout ratio (DPR) is currently 45.05%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SFD. Morgan Stanley set a $29.00 price target on Smithfield Foods and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Zacks Research lowered Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Finally, Bank of America decreased their price target on shares of Smithfield Foods from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $28.31.

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.