Royal Palms Capital LLC Invests $1.29 Million in Smithfield Foods, Inc. $SFD

Royal Palms Capital LLC purchased a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 57,885 shares of the company’s stock, valued at approximately $1,293,000. Smithfield Foods comprises 1.5% of Royal Palms Capital LLC’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds also recently modified their holdings of SFD. Strs Ohio increased its stake in shares of Smithfield Foods by 76.5% during the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock worth $25,000 after purchasing an additional 468 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Smithfield Foods during the 2nd quarter worth $29,000. Oakworth Capital Inc. acquired a new position in shares of Smithfield Foods during the 4th quarter worth $31,000. Parallel Advisors LLC acquired a new position in shares of Smithfield Foods during the 3rd quarter worth $37,000. Finally, Legal & General Group Plc increased its stake in shares of Smithfield Foods by 82.2% during the 3rd quarter. Legal & General Group Plc now owns 4,024 shares of the company’s stock worth $94,000 after purchasing an additional 1,816 shares during the last quarter.

Smithfield Foods Trading Down 0.3%

NASDAQ:SFD opened at $26.25 on Wednesday. Smithfield Foods, Inc. has a 1 year low of $21.08 and a 1 year high of $29.81. The firm’s fifty day simple moving average is $26.77 and its 200 day simple moving average is $24.35. The firm has a market capitalization of $10.33 billion, a PE ratio of 10.25 and a beta of -0.49.

Smithfield Foods (NASDAQ:SFD) last posted its earnings results on Tuesday, April 28th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts anticipate that Smithfield Foods, Inc. will post 2.72 EPS for the current fiscal year.

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 4.8%. The ex-dividend date is Thursday, May 14th. Smithfield Foods’s dividend payout ratio (DPR) is currently 48.83%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SFD shares. Zacks Research upgraded shares of Smithfield Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 25th. Morgan Stanley raised their target price on shares of Smithfield Foods from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. Barclays raised their target price on shares of Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Smithfield Foods from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.88.

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.