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

Leo Wealth LLC purchased a new position in Smithfield Foods, Inc. (NASDAQ:SFD) in the third quarter, Holdings Channel reports. The fund purchased 36,806 shares of the company’s stock, valued at approximately $689,000.

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

Smithfield Foods Trading Down 1.8%

Smithfield Foods stock opened at $18.31 on Tuesday. The business has a 50 day moving average price of $20.16 and a two-hundred day moving average price of $24.09. The company has a quick ratio of 1.34, a current ratio of 2.56 and a debt-to-equity ratio of 0.20. Smithfield Foods, Inc. has a 12 month low of $18.09 and a 12 month 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.

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

Smithfield Foods Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Thursday, August 13th. Smithfield Foods’s dividend payout ratio is presently 46.64%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America lowered Smithfield Foods from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Friday, October 9th. Weiss Ratings cut Smithfield Foods from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, September 29th. Barclays lowered their price target on Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Zacks Research lowered shares of Smithfield Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Smithfield Foods in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Smithfield Foods Profile

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.