Wall Street Zen Downgrades Smithfield Foods (NASDAQ:SFD) to Hold

Smithfield Foods (NASDAQ:SFD) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

SFD has been the subject of several other reports. Morgan Stanley set a $29.00 target price on Smithfield Foods and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.31.

Smithfield Foods Price Performance

SFD opened at $24.18 on Friday. Smithfield Foods has a fifty-two week low of $18.43 and a fifty-two week high of $26.07. The company’s 50 day moving average price is $22.83 and its two-hundred day moving average price is $23.14. The firm has a market capitalization of $9.51 billion and a price-to-earnings ratio of 10.89.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Strs Ohio boosted its stake in Smithfield Foods by 76.5% during the third quarter. Strs Ohio now owns 1,080 shares of the company’s stock worth $25,000 after acquiring an additional 468 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of 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 purchasing an additional 515 shares during the period. 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 purchasing an additional 739 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Smithfield Foods during the 2nd quarter worth about $29,000. Finally, CWM LLC acquired a new stake in shares of Smithfield Foods in the 2nd quarter valued at about $30,000.

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.