Smithfield Foods, Inc (NASDAQ:SFD) Given Average Rating of “Buy” by Analysts

Shares of Smithfield Foods, Inc (NASDAQ:SFD) have received a consensus rating of “Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $27.86.

SFD has been the subject of a number of research analyst reports. Barclays started coverage on Smithfield Foods in a research report on Monday, February 24th. They set an “overweight” rating and a $28.00 price target for the company. The Goldman Sachs Group assumed coverage on Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating and a $32.00 target price on the stock. UBS Group assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating for the company. Morgan Stanley began coverage on shares of Smithfield Foods in a research report on Tuesday, March 25th. They issued an “overweight” rating and a $28.00 price objective on the stock. Finally, Hsbc Global Res raised shares of Smithfield Foods to a “strong-buy” rating in a research report on Tuesday, March 18th.

Smithfield Foods Stock Performance

SFD opened at $23.32 on Friday. Smithfield Foods has a 1-year low of $18.43 and a 1-year high of $23.45. The firm has a market capitalization of $9.17 billion and a P/E ratio of 10.27. The business’s fifty day simple moving average is $20.58.

Smithfield Foods (NASDAQ:SFD) last posted its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.56 billion. The business’s revenue was up 9.5% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.29%. Smithfield Foods’s dividend payout ratio is presently 44.05%.

Insider Transactions at Smithfield Foods

In other news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total value of $50,138,720.00. Following the completion of the transaction, the insider now directly owns 364,518,817 shares of the company’s stock, valued at $7,290,376,340. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.79% of the company’s stock.

Institutional Trading of Smithfield Foods

A number of institutional investors have recently added to or reduced their stakes in SFD. PNC Financial Services Group Inc. bought a new position in Smithfield Foods in the 1st quarter worth about $27,000. Amalgamated Bank purchased a new stake in shares of Smithfield Foods in the first quarter worth about $28,000. Pacer Advisors Inc. bought a new position in shares of Smithfield Foods in the first quarter valued at approximately $34,000. Deutsche Bank AG purchased a new position in Smithfield Foods during the first quarter valued at approximately $74,000. Finally, American Capital Advisory LLC bought a new stake in Smithfield Foods during the 1st quarter worth approximately $102,000.

Smithfield Foods Company Profile

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.