Smithfield Foods, Inc (NASDAQ:SFD) Plans $0.25 Dividend

Smithfield Foods, Inc (NASDAQ:SFD) announced a dividend on Monday, March 24th, NASDAQ Dividends reports. Shareholders of record on Thursday, April 10th will be given a dividend of 0.25 per share on Tuesday, April 22nd. The ex-dividend date of this dividend is Thursday, April 10th.

Smithfield Foods has a dividend payout ratio of 44.1% indicating that its dividend is sufficiently covered by earnings.

Smithfield Foods Trading Up 3.0 %

Shares of SFD stock traded up $0.57 during trading on Wednesday, reaching $19.71. 1,137,825 shares of the company’s stock were exchanged, compared to its average volume of 865,278. The firm has a market capitalization of $7.75 billion and a PE ratio of 8.68. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $22.03.

Smithfield Foods (NASDAQ:SFD) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.91 billion.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SFD. Morgan Stanley assumed coverage on Smithfield Foods in a research note on Tuesday. They issued an “overweight” rating and a $28.00 price target for the company. UBS Group began coverage on Smithfield Foods in a research report on Monday, February 24th. They set a “buy” rating for the company. Bank of America assumed coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a “buy” rating and a $28.00 price target on the stock. HSBC started 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 on the stock. Finally, Citigroup started coverage on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $27.86.

Insider Activity

In other Smithfield Foods news, insider Tennille J. Checkovich purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the transaction, the insider now owns 12,000 shares in the company, valued at $240,000. The trade was a 20.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of Smithfield Foods stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total transaction of $50,138,720.00. Following the transaction, the insider now owns 364,518,817 shares in the company, valued at approximately $7,290,376,340. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 59,000 shares of company stock worth $1,180,000. Insiders own 1.79% of the company’s stock.

About Smithfield Foods

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.