Smithfield Foods, Inc. (NASDAQ:SFD) Receives $28.31 Consensus Price Target from Brokerages

Shares of Smithfield Foods, Inc. (NASDAQ:SFD) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $28.3125.

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $29.00 target price on shares of Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen raised shares of Smithfield Foods from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th.

Smithfield Foods Stock Down 0.4%

NASDAQ:SFD opened at $24.47 on Wednesday. The stock has a market cap of $9.62 billion and a P/E ratio of 11.02. The business’s 50-day moving average price is $22.78 and its two-hundred day moving average price is $23.15. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $26.07.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were given a $0.25 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. Smithfield Foods’s payout ratio is presently 45.05%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Strs Ohio grew its holdings in shares of Smithfield Foods by 76.5% during the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after purchasing an additional 468 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Smithfield Foods by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock valued at $26,000 after buying an additional 515 shares during the period. Raymond James Financial Inc. bought a new position in shares of Smithfield Foods during the second quarter valued at about $29,000. CWM LLC purchased a new position in shares of Smithfield Foods in the second quarter worth about $30,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Smithfield Foods in the 4th quarter valued at about $31,000.

Smithfield Foods Company Profile

Smithfield Foods, Inc (NASDAQ: SFD) is one of the world’s largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan’s Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.