Quinn Opportunity Partners LLC Raises Holdings in Smithfield Foods, Inc. $SFD

Key Points

• Quinn Opportunity Partners LLC increased its stake in Smithfield Foods (NASDAQ: SFD) by 88.9% in Q3, buying 91,000 shares to hold 193,414 shares valued at about $4.54 million.
• Other institutions, including Goldman Sachs, Royal Bank of Canada and Acadian Asset Management, also added or initiated positions (Acadian's stake rose 42,317.8% to 117,073 shares), indicating growing institutional interest.
• Analysts rate SFD a consensus "Moderate Buy" with an average target of $28.90; the stock trades near $23.42 with a market cap of roughly $9.21 billion and a P/E around 10.6.

Quinn Opportunity Partners LLC increased its holdings in Smithfield Foods, Inc. (NASDAQ:SFD - Free Report) by 88.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,414 shares of the company's stock after buying an additional 91,000 shares during the period. Quinn Opportunity Partners LLC's holdings in Smithfield Foods were worth $4,541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SFD. Royal Bank of Canada purchased a new position in shares of Smithfield Foods in the 1st quarter valued at $1,456,000. Goldman Sachs Group Inc. purchased a new stake in shares of Smithfield Foods during the 1st quarter worth $3,195,000. Acadian Asset Management LLC lifted its stake in shares of Smithfield Foods by 42,317.8% during the 2nd quarter. Acadian Asset Management LLC now owns 117,073 shares of the company's stock worth $2,752,000 after purchasing an additional 116,797 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Smithfield Foods by 329.4% during the second quarter. PNC Financial Services Group Inc. now owns 5,582 shares of the company's stock valued at $131,000 after purchasing an additional 4,282 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Smithfield Foods during the second quarter valued at about $2,345,000.

Analyst Ratings Changes

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

Smithfield Foods Trading Up 0.2%

NASDAQ SFD opened at $23.42 on Friday. The company has a fifty day simple moving average of $23.92 and a two-hundred day simple moving average of $23.08. The stock has a market cap of $9.21 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.23 and a beta of 0.12. Smithfield Foods, Inc. has a 12-month low of $18.55 and a 12-month high of $26.07.

Smithfield Foods 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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