Smithfield Foods (NASDAQ:SFD) Announces Earnings Results

Smithfield Foods (NASDAQ:SFD - Get Free Report) issued its earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01), Zacks reports. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.91 billion.

Smithfield Foods Stock Up 0.6 %

SFD stock traded up $0.12 during midday trading on Friday, hitting $20.23. 546,012 shares of the company's stock were exchanged, compared to its average volume of 851,657. The business has a 50 day moving average of $20.44. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $22.03. The firm has a market capitalization of $7.95 billion and a PE ratio of 8.91.

Smithfield Foods Announces Dividend

The firm also recently disclosed a -- dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 10th. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SFD shares. HSBC initiated coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They set a "buy" rating and a $29.00 price objective for the company. Bank of America began coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $28.00 price objective on the stock. Barclays initiated coverage on Smithfield Foods in a research report on Monday, February 24th. They issued an "overweight" rating and a $28.00 target price for the company. BNP Paribas assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a "neutral" rating and a $23.00 target price on the stock. Finally, Citigroup began coverage on Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating and a $27.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $27.86.

Insider Activity

In related news, insider Tennille J. Checkovich bought 2,000 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the purchase, the insider now owns 12,000 shares in the company, valued at $240,000. This trade represents a 20.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hank Shenghua He purchased 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, with a total value of $340,000.00. Following the completion of the purchase, the director now directly owns 77,000 shares of the company's stock, valued at approximately $1,540,000. This represents a 28.33 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 59,000 shares of company stock worth $1,180,000. 1.79% of the stock is currently owned by insiders.

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.