Smithfield Foods (NASDAQ:SFD) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Smithfield Foods (NASDAQ:SFD) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.88.

Smithfield Foods Price Performance

Smithfield Foods stock opened at $23.12 on Friday. Smithfield Foods has a one year low of $18.55 and a one year high of $26.07. The business’s fifty day moving average is $24.06 and its 200 day moving average is $22.99. The stock has a market capitalization of $9.09 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.22 and a beta of 0.12.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors have recently made changes to their positions in the business. Strs Ohio increased its holdings in Smithfield Foods by 76.5% during the third quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after buying an additional 468 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Smithfield Foods in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. raised its holdings in Smithfield Foods by 88.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after purchasing an additional 515 shares during the period. Raymond James Financial Inc. bought a new position in Smithfield Foods in the 2nd quarter worth $29,000. Finally, Oakworth Capital Inc. purchased a new position in Smithfield Foods during the fourth quarter valued at $31,000.

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.