Shares of Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) have been assigned a consensus rating of "Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.86.
Several research firms have weighed in on SFD. BNP Paribas began coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a "neutral" rating and a $23.00 price objective on the stock. Hsbc Global Res upgraded Smithfield Foods to a "strong-buy" rating in a report on Tuesday, March 18th. Morgan Stanley initiated coverage on Smithfield Foods in a research note on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 price objective for the company. Barclays assumed coverage on Smithfield Foods in a research note on Monday, February 24th. They set an "overweight" rating and a $28.00 target price on the stock. Finally, Citigroup initiated coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $27.00 price target for the company.
Check Out Our Latest Research Report on Smithfield Foods
Smithfield Foods Stock Down 0.6 %
Shares of Smithfield Foods stock opened at $22.51 on Friday. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $23.45. The firm has a market capitalization of $8.85 billion and a price-to-earnings ratio of 9.92. The stock's fifty day moving average is $20.25.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The firm had revenue of $3.77 billion for the quarter, compared to analysts' expectations of $3.56 billion. The firm's revenue was up 9.5% compared to the same quarter last year.
Smithfield Foods Dividend Announcement
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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, May 15th. Smithfield Foods's dividend payout ratio is 44.05%.
Insider Activity
In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total transaction of $50,138,720.00. Following the transaction, the insider now owns 364,518,817 shares in the company, valued at $7,290,376,340. This trade represents a 0.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.79% of the stock is owned by insiders.
Institutional Trading of Smithfield Foods
Several large investors have recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in Smithfield Foods in the 1st quarter valued at approximately $74,000. PNC Financial Services Group Inc. acquired a new stake in shares of Smithfield Foods in the first quarter worth $27,000. Alberta Investment Management Corp bought a new position in Smithfield Foods during the first quarter worth $25,488,000. Federated Hermes Inc. bought a new stake in Smithfield Foods in the 1st quarter valued at $1,479,000. Finally, Pacer Advisors Inc. acquired a new stake in Smithfield Foods in the 1st quarter worth $34,000.
About Smithfield Foods
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Get Free ReportSmithfield 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.
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