Long Wan Buys 1,800,000 Shares of Smithfield Foods (NASDAQ:SFD) Stock

Smithfield Foods, Inc. (NASDAQ:SFD) Director Long Wan purchased 1,800,000 shares of Smithfield Foods stock in a transaction dated Monday, September 8th. The shares were bought at an average price of $23.25 per share, with a total value of $41,850,000.00. Following the completion of the transaction, the director owned 5,060,000 shares in the company, valued at approximately $117,645,000. This trade represents a 55.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Smithfield Foods Trading Down 0.7%

SFD stock opened at $23.33 on Wednesday. The firm has a 50 day moving average of $24.61 and a 200-day moving average of $22.56. Smithfield Foods, Inc. has a 12-month low of $18.43 and a 12-month high of $26.07. The company has a market cap of $9.17 billion and a price-to-earnings ratio of 10.28.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.62 billion. Smithfield Foods’s quarterly revenue was up 11.0% compared to the same quarter last year.

Smithfield Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Thursday, August 14th. Smithfield Foods’s dividend payout ratio (DPR) is presently 44.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SFD shares. UBS Group reissued a “buy” rating and set a $28.50 price objective (up from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Morgan Stanley raised their price objective on shares of Smithfield Foods from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Barclays raised their price objective on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Finally, Zacks Research raised shares of Smithfield Foods from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $28.44.

Institutional Trading of Smithfield Foods

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Smithfield Foods in the 2nd quarter worth approximately $29,000. CWM LLC purchased a new stake in Smithfield Foods in the 2nd quarter worth approximately $30,000. PNC Financial Services Group Inc. purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $27,000. Amalgamated Bank purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $28,000. Finally, Pacer Advisors Inc. purchased a new stake in Smithfield Foods in the 1st quarter worth approximately $34,000.

Smithfield Foods Company Profile

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.