Smithfield Foods, Inc. (NASDAQ:SFD) Receives $30.88 Consensus PT from Brokerages

Shares of Smithfield Foods, Inc. (NASDAQ:SFD) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.8750.

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Smithfield Foods from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Wall Street Zen downgraded Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Bank of America decreased their price target on Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. Barclays upped their price target on Smithfield Foods from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley increased their price objective on Smithfield Foods from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th.

Hedge Funds Weigh In On Smithfield Foods

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Smithfield Foods by 94.0% during the third quarter. Millennium Management LLC now owns 3,634,709 shares of the company’s stock worth $85,343,000 after buying an additional 1,760,713 shares during the last quarter. Zimmer Partners LP raised its stake in shares of Smithfield Foods by 13.8% in the fourth quarter. Zimmer Partners LP now owns 2,090,000 shares of the company’s stock valued at $46,670,000 after acquiring an additional 253,286 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Smithfield Foods by 653.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,664,585 shares of the company’s stock worth $39,084,000 after acquiring an additional 1,443,605 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Smithfield Foods by 28.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,560,647 shares of the company’s stock worth $34,849,000 after acquiring an additional 348,503 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Smithfield Foods by 8.3% during the 4th quarter. Deutsche Bank AG now owns 1,431,029 shares of the company’s stock worth $31,955,000 after acquiring an additional 109,254 shares during the last quarter.

Smithfield Foods Price Performance

Shares of NASDAQ:SFD traded down $0.14 during midday trading on Friday, reaching $24.67. 1,713,260 shares of the company’s stock were exchanged, compared to its average volume of 1,188,124. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.29 and a current ratio of 2.41. The company’s 50 day simple moving average is $25.60 and its two-hundred day simple moving average is $25.17. Smithfield Foods has a 12 month low of $21.08 and a 12 month high of $29.81. The firm has a market capitalization of $9.71 billion, a PE ratio of 9.64 and a beta of -0.41.

Smithfield Foods (NASDAQ:SFD) last posted its earnings results on Tuesday, April 28th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Smithfield Foods had a net margin of 6.48% and a return on equity of 15.54%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts expect that Smithfield Foods will post 2.7 earnings per share for the current fiscal year.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.3125 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 5.1%. Smithfield Foods’s dividend payout ratio (DPR) is 48.83%.

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.