Analysts Set Smithfield Foods, Inc (NASDAQ:SFD) Target Price at $27.86

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) has received a consensus recommendation of "Buy" from the nine research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $27.86.

Several research analysts recently weighed in on SFD shares. UBS Group started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating for the company. BNP Paribas began coverage on Smithfield Foods in a report on Monday, February 24th. They issued a "neutral" rating and a $23.00 price target for the company. Barclays assumed coverage on Smithfield Foods in a report on Monday, February 24th. They issued an "overweight" rating and a $28.00 price target for the company. Hsbc Global Res upgraded Smithfield Foods to a "strong-buy" rating in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating and a $32.00 target price for the company.

Smithfield Foods Trading Down 1.6%

Shares of NASDAQ:SFD traded down $0.38 during midday trading on Wednesday, hitting $22.91. 369,030 shares of the stock were exchanged, compared to its average volume of 762,776. The company has a market capitalization of $9.01 billion and a PE ratio of 10.09. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $23.62. The firm has a 50 day simple moving average of $21.51.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.56 billion. The firm's revenue was up 9.5% on a year-over-year basis.

Smithfield Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's payout ratio is 44.05%.

Hedge Funds Weigh In On Smithfield Foods

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new position in shares of Smithfield Foods in the 1st quarter valued at approximately $27,000. Amalgamated Bank acquired a new position in shares of Smithfield Foods in the 1st quarter valued at approximately $28,000. Pacer Advisors Inc. acquired a new stake in shares of Smithfield Foods during the 1st quarter valued at approximately $34,000. Deutsche Bank AG acquired a new stake in shares of Smithfield Foods during the 1st quarter valued at approximately $74,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Smithfield Foods during the 1st quarter valued at approximately $102,000.

About Smithfield Foods

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.