Renaissance Technologies LLC Boosts Stock Holdings in Smithfield Foods, Inc. $SFD

Renaissance Technologies LLC grew its holdings in Smithfield Foods, Inc. (NASDAQ:SFD) by 52.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,500 shares of the company’s stock after purchasing an additional 112,200 shares during the period. Renaissance Technologies LLC’s holdings in Smithfield Foods were worth $9,076,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SFD. Royal Bank of Canada bought a new position in Smithfield Foods in the 1st quarter worth approximately $1,456,000. Goldman Sachs Group Inc. bought a new stake in Smithfield Foods during the 1st quarter valued at $3,195,000. Cetera Investment Advisers purchased a new stake in shares of Smithfield Foods during the second quarter worth $485,000. JPMorgan Chase & Co. lifted its position in shares of Smithfield Foods by 7,016.0% during the second quarter. JPMorgan Chase & Co. now owns 36,363 shares of the company’s stock worth $856,000 after acquiring an additional 35,852 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Smithfield Foods by 267.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 53,025 shares of the company’s stock worth $1,248,000 after acquiring an additional 38,580 shares during the period.

Analyst Ratings Changes

SFD has been the subject of several recent research reports. Zacks Research cut Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings restated a “buy (b)” rating on shares of Smithfield Foods in a research note on Friday, July 24th. Wall Street Zen downgraded Smithfield Foods from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Barclays lifted their target price on Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Bank of America decreased their price target on Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Smithfield Foods Price Performance

SFD opened at $26.04 on Monday. The company has a fifty day moving average price of $25.66 and a 200-day moving average price of $25.58. The firm has a market capitalization of $10.25 billion, a P/E ratio of 10.17 and a beta of -0.44. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.41 and a quick ratio of 1.29. Smithfield Foods, Inc. has a one year low of $21.08 and a one year high of $29.81.

Smithfield Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.25 annualized dividend and a yield of 4.8%. Smithfield Foods’s dividend payout ratio (DPR) is currently 48.83%.

About Smithfield Foods

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.