UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 7 )*
SMITHFIELD FOODS, INC.
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(Name of Issuer)
COMMON STOCK, $ .50 PAR VALUE
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(Title of Class of Securities)
832248 10 8
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(CUSIP Number)
J. Troy Smith, Jr.
William R. Lathan, Jr.
Ward and Smith, P.A.
1001 College Court
New Bern, North Carolina 28562
(252) 633-1000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 7, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box [ ].
Note: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
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SCHEDULE 13D
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CUSIP No. 832248 10 8 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Carroll's Foods, Inc.
56-0897366
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
SC
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
North Carolina, United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY
EACH
REPORTING
PERSON
WITH
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8 SHARED VOTING POWER
-0-
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9 SOLE DISPOSITIVE POWER
-0-
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.00%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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</TABLE>
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This Amendment No. 7 amends the Reporting Person's Schedule 13D dated
August 18, 1992 (as previously amended on September 15, 1992, October 16, 1992,
April 18, 1995, May 17, 1995, January 10, 1996, and December 2, 1998) and is
filed by the Reporting Person to report that it no longer beneficially owns more
than 5% of the Issuer's Common Stock.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Prior to May 7, 1999, the Reporting Person beneficially owned an
aggregate of 2,356,000 shares of the Issuer's Common Stock, constituting 5.63%
of the outstanding shares of such stock (based on a total of 41,844,359
outstanding shares as of March 5, 1999, as reported in the Issuer's most recent
Quarterly Report on Form 10-Q for the quarterly period ended March 31, 1999).
All such shares were held of record by Carroll's Swine Investment Partnership
(the "Partnership"), a general partnership in which the Reporting Person holds a
99% equity interest and serves as one of two general partners. Carroll's Foods
of Virginia, Inc. ("Carroll's/Va"), whose three shareholders are the same as
those of the Reporting Person, is the remaining general partner and the holder
of the remaining 1% equity interest in the Partnership.
Effective May 7, 1999, the above shares of the Issuer's Common Stock
were distributed pro rata to the three shareholders of the Reporting Person and
Carroll's/Va. As a result of such distribution, the Reporting Person no longer
beneficially owns any shares of the Common Stock.
This amendment is being filed to report the fact that, as of the date of
the above distribution, the Reporting Person ceased to be the beneficial owner
of more than 5% of the Common Stock.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this Statement is true, complete and correct.
CARROLL'S FOODS, INC.
By: /S/ F. J. Faison, Jr.
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F. J. Faison, Jr., President and
Chief Executive Officer
May 7, 1999
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