ING Groep NV Trims Stock Holdings in Smithfield Foods, Inc. $SFD

ING Groep NV decreased its position in Smithfield Foods, Inc. (NASDAQ:SFD) by 35.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 213,800 shares of the company’s stock after selling 115,700 shares during the quarter. ING Groep NV’s holdings in Smithfield Foods were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SFD. Parallel Advisors LLC increased its holdings in shares of Smithfield Foods by 46.2% during the 4th quarter. Parallel Advisors LLC now owns 2,328 shares of the company’s stock worth $52,000 after buying an additional 736 shares during the last quarter. Verition Fund Management LLC increased its holdings in shares of Smithfield Foods by 1.1% during the 3rd quarter. Verition Fund Management LLC now owns 68,812 shares of the company’s stock worth $1,616,000 after buying an additional 739 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Smithfield Foods during the 2nd quarter worth $29,000. Daiwa Securities Group Inc. increased its holdings in shares of Smithfield Foods by 38.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,842 shares of the company’s stock worth $108,000 after buying an additional 1,333 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of Smithfield Foods during the 4th quarter worth $31,000.

Smithfield Foods Stock Performance

NASDAQ:SFD opened at $26.25 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.41 and a quick ratio of 1.29. The firm has a 50-day moving average of $27.17 and a two-hundred day moving average of $24.63. The stock has a market cap of $10.33 billion, a P/E ratio of 10.25 and a beta of -0.49. Smithfield Foods, Inc. has a 1-year low of $21.08 and a 1-year high of $29.81.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Smithfield Foods had a net margin of 6.48% and a return on equity of 15.54%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. On average, research analysts expect that Smithfield Foods, Inc. will post 2.74 earnings per share for the current fiscal year.

Smithfield Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, May 14th. Smithfield Foods’s dividend payout ratio is presently 48.83%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SFD shares. Weiss Ratings upgraded Smithfield Foods from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price target on Smithfield Foods from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Barclays increased their price target on Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Zacks Research downgraded Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Finally, Wall Street Zen downgraded Smithfield Foods from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Smithfield Foods presently has an average rating of “Moderate Buy” and a consensus price target 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.