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

Sterling Capital Management LLC trimmed its position in Smithfield Foods, Inc. (NASDAQ:SFD) by 94.8% during the third quarter, HoldingsChannel.com reports. The fund owned 6,244 shares of the company’s stock after selling 112,971 shares during the quarter. Sterling Capital Management LLC’s holdings in Smithfield Foods were worth $117,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SFD shares. Barclays dropped their price objective on Smithfield Foods from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday. Weiss Ratings cut Smithfield Foods from a “hold (c)” rating to a “sell (d)” rating in a research report on Wednesday. Stephens reiterated a “reduce” rating on shares of Smithfield Foods in a research report on Wednesday. Bank of America downgraded Smithfield Foods from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research note on Friday, October 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 target price on shares of Smithfield Foods in a report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.67.

Smithfield Foods Stock Performance

Shares of Smithfield Foods stock opened at $18.34 on Monday. Smithfield Foods, Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $29.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.39 and a quick ratio of 1.20. The firm has a market capitalization of $7.22 billion, a P/E ratio of 8.04 and a beta of -0.39. The company’s 50 day moving average price is $19.75 and its two-hundred day moving average price is $24.00.

Smithfield Foods (NASDAQ:SFD) last posted its earnings results on Tuesday, October 27th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $3.44 billion for the quarter. Smithfield Foods had a net margin of 5.94% and a return on equity of 13.41%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts forecast that Smithfield Foods, Inc. will post 1.77 earnings per share 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. Investors of record on Thursday, November 12th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $1.25 annualized dividend and a dividend yield of 6.8%. Smithfield Foods’s dividend payout ratio (DPR) is 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.