Centiva Capital LP Takes $864,000 Position in Smithfield Foods, Inc. $SFD

Centiva Capital LP bought a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 36,783 shares of the company’s stock, valued at approximately $864,000.

A number of other hedge funds have also added to or reduced their stakes in SFD. Prudential Financial Inc. lifted its stake in Smithfield Foods by 1,029.5% in the second quarter. Prudential Financial Inc. now owns 172,420 shares of the company’s stock valued at $4,057,000 after buying an additional 157,155 shares during the period. Monashee Investment Management LLC acquired a new stake in shares of Smithfield Foods during the 3rd quarter worth approximately $4,226,000. Magnetar Financial LLC acquired a new stake in shares of Smithfield Foods during the 2nd quarter worth approximately $419,000. ING Groep NV increased its stake in shares of Smithfield Foods by 54.1% in the 3rd quarter. ING Groep NV now owns 329,500 shares of the company’s stock valued at $7,737,000 after acquiring an additional 115,700 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Smithfield Foods by 18.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock valued at $8,102,000 after acquiring an additional 54,734 shares in the last quarter.

Smithfield Foods Trading Up 0.2%

Shares of NASDAQ:SFD opened at $23.42 on Monday. The stock’s fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $23.05. Smithfield Foods, Inc. has a 1-year low of $18.55 and a 1-year high of $26.07. The stock has a market cap of $9.21 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.12.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SFD shares. Wall Street Zen raised shares of Smithfield Foods from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.90.

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.