Royal Bank of Canada Trims Stake in Smithfield Foods by 62%

Royal Bank of Canada has reduced its position in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 62.1% during the first quarter, according to a recent filing with the Securities & Exchange Commission.

The firm owned 68,666 shares of the company's stock after selling 112,708 shares during the quarter. Royal Bank of Canada's holdings in Smithfield Foods were worth $1,921,000 at the end of the most recent quarter.

Several other hedge funds also modified their stakes in Smithfield Foods during the second quarter. JPMorgan Chase & Co. boosted its position by 7,016.0% and now owns 36,363 shares of the company's stock worth $856,000 after acquiring an additional 35,852 shares.

Smithfield Foods last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.70 billion for the quarter.