Smithfield Foods, Inc. (NASDAQ:SFD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Smithfield Foods, Inc. (NASDAQ:SFD) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $30.8750.

Several equities research analysts have recently issued reports on SFD shares. Bank of America decreased their price objective on shares of Smithfield Foods from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Zacks Research downgraded Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Smithfield Foods in a research report on Friday, July 24th. Wall Street Zen lowered Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Barclays boosted their target price on Smithfield Foods from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th.

Smithfield Foods Price Performance

Shares of Smithfield Foods stock opened at $26.04 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.41 and a debt-to-equity ratio of 0.20. Smithfield Foods has a 52-week low of $21.08 and a 52-week high of $29.81. The company has a market capitalization of $10.25 billion, a P/E ratio of 10.17 and a beta of -0.44. The company has a 50 day moving average of $25.66 and a 200 day moving average of $25.58.

Smithfield Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be issued a $0.3125 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.25 annualized dividend and a dividend yield of 4.8%. Smithfield Foods’s dividend payout ratio is presently 48.83%.

Institutional Investors Weigh In On Smithfield Foods

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new stake in shares of Smithfield Foods in the 1st quarter valued at about $1,456,000. Goldman Sachs Group Inc. purchased a new stake in Smithfield Foods in the first quarter valued at approximately $3,195,000. Cetera Investment Advisers acquired a new stake in shares of Smithfield Foods in the second quarter valued at approximately $485,000. JPMorgan Chase & Co. grew its position in shares of Smithfield Foods by 7,016.0% during the second quarter. JPMorgan Chase & Co. now owns 36,363 shares of the company’s stock worth $856,000 after acquiring an additional 35,852 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Smithfield Foods by 267.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,025 shares of the company’s stock valued at $1,248,000 after acquiring an additional 38,580 shares during the period.

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.