Smithfield Foods, Inc. (NASDAQ:SFD) Receives $28.31 Consensus PT from Analysts

Shares of Smithfield Foods, Inc. (NASDAQ:SFD) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.3125.

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Zacks Research downgraded shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Bank of America lowered their target price on shares of Smithfield Foods from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $29.00 price target on shares of Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th.

Institutional Trading of Smithfield Foods

Several large investors have recently modified their holdings of the stock. Strs Ohio raised its position in shares of Smithfield Foods by 76.5% in the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after buying an additional 468 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Smithfield Foods by 88.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after acquiring an additional 515 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Smithfield Foods by 1.1% during the 3rd quarter. Verition Fund Management LLC now owns 68,812 shares of the company’s stock worth $1,616,000 after acquiring an additional 739 shares in the last quarter. Raymond James Financial Inc. bought a new position in Smithfield Foods in the second quarter valued at approximately $29,000. Finally, CWM LLC acquired a new position in Smithfield Foods during the second quarter valued at approximately $30,000.

Smithfield Foods Trading Up 1.2%

NASDAQ:SFD opened at $22.75 on Friday. The stock has a 50 day simple moving average of $21.99 and a 200 day simple moving average of $23.17. The stock has a market cap of $8.94 billion and a P/E ratio of 10.25. Smithfield Foods has a 1-year low of $18.43 and a 1-year high of $26.07.

Smithfield Foods (NASDAQ:SFD) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.58 billion. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis.

Smithfield Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 annualized dividend and a yield of 4.4%. Smithfield Foods’s payout ratio is currently 45.05%.

About Smithfield Foods

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.