Walnut Level Capital LLC Has $2.70 Million Stake in Smithfield Foods, Inc. $SFD

Walnut Level Capital LLC grew its holdings in Smithfield Foods, Inc. (NASDAQ:SFD) by 129.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,800 shares of the company’s stock after acquiring an additional 64,800 shares during the quarter. Smithfield Foods accounts for about 1.5% of Walnut Level Capital LLC’s investment portfolio, making the stock its 12th largest holding. Walnut Level Capital LLC’s holdings in Smithfield Foods were worth $2,701,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SFD. Raymond James Financial Inc. acquired a new position in shares of Smithfield Foods in the 2nd quarter valued at approximately $29,000. CWM LLC acquired a new stake in Smithfield Foods during the 2nd quarter worth approximately $30,000. PNC Financial Services Group Inc. bought a new position in Smithfield Foods in the first quarter valued at approximately $27,000. New York State Teachers Retirement System acquired a new position in shares of Smithfield Foods in the second quarter valued at approximately $55,000. Finally, Security National Bank bought a new stake in shares of Smithfield Foods during the second quarter worth $67,000.

Analyst Ratings Changes

Several research firms recently commented on SFD. Morgan Stanley set a $29.00 price objective on shares of Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th. Zacks Research lowered Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Smithfield Foods in a research report on Monday, December 1st. Finally, Bank of America dropped their target price on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.31.

Smithfield Foods Price Performance

Shares of NASDAQ:SFD opened at $22.53 on Friday. The company’s 50-day moving average price is $21.77 and its two-hundred day moving average price is $23.31. Smithfield Foods, Inc. has a one year low of $18.43 and a one year high of $26.07. The stock has a market capitalization of $8.86 billion and a PE ratio of 10.15.

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

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 4.4%. Smithfield Foods’s payout ratio is 45.05%.

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.