Smithfield Foods, Inc. (NASDAQ:SFD) Stock Has Average Price Target of $24.67 According to Brokerages

Smithfield Foods, Inc. (NASDAQ:SFD) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.67.

A number of research firms recently commented on SFD. Barclays reduced their price objective on Smithfield Foods from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. Weiss Ratings lowered Smithfield Foods from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, October 28th. Bank of America lowered shares of Smithfield Foods from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $21.00 target price on Smithfield Foods in a report on Friday, October 9th. Finally, Stephens restated a “reduce” rating on shares of Smithfield Foods in a research report on Wednesday, October 28th.

Hedge Funds Weigh In On Smithfield Foods

Large investors have recently modified their holdings of the business. Bank of America Corp DE bought a new position in Smithfield Foods during the 2nd quarter worth approximately $19,855,000. BlackRock Inc. bought a new position in shares of Smithfield Foods in the second quarter valued at approximately $33,145,000. Core Capital Management & Research inc. bought a new stake in shares of Smithfield Foods in the second quarter valued at $6,656,000. Squarepoint Ops LLC boosted its stake in Smithfield Foods by 144.9% in the 2nd quarter. Squarepoint Ops LLC now owns 112,413 shares of the company’s stock worth $2,727,000 after purchasing an additional 66,519 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of Smithfield Foods during the 2nd quarter valued at about $1,815,000.

Smithfield Foods Price Performance

Smithfield Foods stock opened at $19.25 on Friday. Smithfield Foods has a 52-week low of $17.91 and a 52-week high of $29.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.20 and a current ratio of 2.39. The stock’s 50 day moving average price is $19.34 and its two-hundred day moving average price is $23.86. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 8.31 and a beta of -0.39.

Smithfield Foods (NASDAQ:SFD) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. Smithfield Foods had a return on equity of 13.41% and a net margin of 5.94%. The business had revenue of $3.44 billion for the quarter. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that Smithfield Foods will post 1.77 earnings per share for the current year.

Smithfield Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Thursday, November 12th. Smithfield Foods’s dividend payout ratio is 54.82%.

Smithfield Foods Company Profile

Smithfield Foods is a U.S.-based food company focused on pork production and packaged meats. Its operations span hog farming, meat processing and the manufacture and marketing of fresh pork and prepared foods. The company sells products under brands including Smithfield, Eckrich, Farmland, Armour and Cook’s. Its offerings include fresh pork, bacon, ham, sausage, hot dogs and other packaged meat products for retail, food-service and wholesale customers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional meat processor into a major pork producer.