Smithfield Foods, Inc (NASDAQ:SFD) to Issue Dividend of $0.25

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

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

Smithfield Foods Trading Up 3.0 %

SFD stock traded up $0.57 on Wednesday, reaching $19.71. 1,137,825 shares of the company were exchanged, compared to its average volume of 865,278. The firm has a market capitalization of $7.75 billion and a P/E ratio of 8.68. Smithfield Foods has a 12 month low of $18.43 and a 12 month high of $22.03.

Smithfield Foods (NASDAQ:SFD) last issued its earnings results on Tuesday, March 25th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion.

Insiders Place Their Bets

In other Smithfield Foods news, Director Hank Shenghua He purchased 17,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $340,000.00. Following the purchase, the director now owns 77,000 shares of the company’s stock, valued at approximately $1,540,000. This represents a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Shane Smith acquired 30,000 shares of Smithfield Foods stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of $20.00 per share, with a total value of $600,000.00. Following the completion of the purchase, the chief executive officer now owns 120,000 shares in the company, valued at approximately $2,400,000. The trade was a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 59,000 shares of company stock worth $1,180,000. Company insiders own 1.79% of the company’s stock.

Wall Street Analyst Weigh In

SFD has been the subject of a number of analyst reports. Citigroup initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating and a $27.00 price objective for the company. Bank of America initiated coverage on shares of 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 assumed coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They issued a “buy” rating and a $29.00 target price for the company. Hsbc Global Res upgraded Smithfield Foods to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Morgan Stanley began coverage on Smithfield Foods in a research note on Tuesday. They issued an “overweight” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.86.

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.