Cinctive Capital Management LP Grows Stock Holdings in Smithfield Foods, Inc. $SFD

Key Points

• Cinctive Capital Management LP increased its stake in Smithfield Foods by 116.4% in Q3, now owning 318,975 shares worth about $7.49 million (0.08% of the company).
• Several other institutions also boosted or initiated positions—Bank of America raised its holding by 126% to 427,440 shares, Bank of Nova Scotia surged 1,321.6% to 639,700 shares, and Bridgefront, Boothbay and Aquatic established new stakes.
• Analysts have a consensus rating of Moderate Buy with a consensus target of $28.90, while the stock trades around $23.42 with a market cap of $9.21 billion, a PE of 10.55, and a 52‑week range of $18.55–$26.07.

Cinctive Capital Management LP raised its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) by 116.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,975 shares of the company's stock after purchasing an additional 171,559 shares during the quarter. Cinctive Capital Management LP owned 0.08% of Smithfield Foods worth $7,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bridgefront Capital LLC bought a new stake in shares of Smithfield Foods in the 3rd quarter worth about $419,000. Bank of America Corp DE lifted its holdings in shares of Smithfield Foods by 126.0% in the 3rd quarter. Bank of America Corp DE now owns 427,440 shares of the company's stock valued at $10,036,000 after acquiring an additional 238,284 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Smithfield Foods by 1,321.6% in the 3rd quarter. Bank of Nova Scotia now owns 639,700 shares of the company's stock valued at $15,020,000 after acquiring an additional 594,700 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Smithfield Foods in the third quarter worth about $281,000. Finally, Aquatic Capital Management LLC purchased a new position in Smithfield Foods in the third quarter worth about $1,778,000.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SFD shares. Weiss Ratings restated a "hold (c)" rating on shares of Smithfield Foods in a research report on Monday, December 29th. Wall Street Zen upgraded Smithfield Foods from a "hold" rating to a "buy" rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.90.

Smithfield Foods Stock Up 0.2%

Shares of Smithfield Foods stock opened at $23.42 on Friday. The stock's fifty day moving average is $23.92 and its two-hundred day moving average is $23.06. Smithfield Foods, Inc. has a 52 week low of $18.55 and a 52 week high of $26.07. The company has a market capitalization of $9.21 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.23 and a beta of 0.12.

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.

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