ING Groep NV Buys 115,700 Shares of Smithfield Foods, Inc. $SFD

ING Groep NV grew its stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 54.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,500 shares of the company’s stock after buying an additional 115,700 shares during the period. ING Groep NV’s holdings in Smithfield Foods were worth $7,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SFD. 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 acquiring an additional 468 shares during the period. Harbor Capital Advisors Inc. increased its stake in Smithfield Foods by 88.2% in 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 in the last quarter. Raymond James Financial Inc. bought a new stake in Smithfield Foods in the second quarter valued at approximately $29,000. CWM LLC acquired a new stake in Smithfield Foods in the second quarter worth $30,000. Finally, New York State Teachers Retirement System bought a new position in shares of Smithfield Foods during the second quarter worth $55,000.

Analysts Set New Price Targets

A number of research firms recently commented on SFD. Wall Street Zen cut shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. Finally, Morgan Stanley set a $29.00 price target on Smithfield Foods and gave the stock an “overweight” rating in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.31.

Smithfield Foods Price Performance

SFD opened at $24.59 on Friday. The company has a market capitalization of $9.67 billion and a price-to-earnings ratio of 11.08. The business’s 50-day moving average price is $23.00 and its two-hundred day moving average price is $23.17. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07.

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.