Smithfield Foods (NASDAQ:SFD) Upgraded to “Buy” at Wall Street Zen

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

A number of other analysts also recently weighed in on the company. Morgan Stanley set a $29.00 price objective on Smithfield Foods and gave the company an “overweight” rating in a report on Thursday, October 16th. Bank of America lowered their price objective on Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.31.

Smithfield Foods Stock Up 0.7%

NASDAQ SFD opened at $23.90 on Friday. The company has a market cap of $9.40 billion and a price-to-earnings ratio of 10.77. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $26.07. The business’s fifty day moving average is $22.48 and its 200 day moving average is $23.12.

Smithfield Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, November 13th. Smithfield Foods’s dividend payout ratio is 45.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SFD. Strs Ohio grew its position in 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 purchasing an additional 468 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Smithfield Foods by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock valued at $26,000 after buying an additional 515 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Smithfield Foods during the second quarter worth about $29,000. CWM LLC acquired a new stake in shares of Smithfield Foods in the 2nd quarter worth about $30,000. Finally, Oakworth Capital Inc. acquired a new position in Smithfield Foods during the 4th quarter valued at about $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.