Renaissance Capital LLC Has $1.35 Million Stock Holdings in Smithfield Foods, Inc. $SFD

Renaissance Capital LLC lifted its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 105.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,400 shares of the company’s stock after purchasing an additional 29,475 shares during the period. Smithfield Foods accounts for 0.8% of Renaissance Capital LLC’s holdings, making the stock its 27th biggest holding. Renaissance Capital LLC’s holdings in Smithfield Foods were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zimmer Partners LP bought a new position in Smithfield Foods during the 1st quarter worth $56,087,000. Millennium Management LLC bought a new position in shares of Smithfield Foods during the first quarter worth about $46,687,000. Park West Asset Management LLC acquired a new position in shares of Smithfield Foods in the first quarter worth approximately $35,621,000. Norges Bank bought a new stake in Smithfield Foods in the second quarter valued at approximately $31,295,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Smithfield Foods during the 1st quarter valued at approximately $20,331,000.

Smithfield Foods Price Performance

SFD stock opened at $22.29 on Wednesday. The company’s 50-day moving average is $21.95 and its 200-day moving average is $23.25. The stock has a market capitalization of $8.76 billion and a PE ratio of 10.04. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07.

Smithfield Foods (NASDAQ:SFD) last issued its earnings results on Tuesday, October 28th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.58 billion. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Thursday, November 13th. Smithfield Foods’s dividend payout ratio (DPR) is currently 45.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SFD shares. Zacks Research cut shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $29.00 price objective on Smithfield Foods and gave the company an “overweight” rating in a research note on Thursday, October 16th. Bank of America decreased their target price on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Smithfield Foods currently has an average rating of “Moderate Buy” and an average price target of $28.31.

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.