Smithfield Foods (NASDAQ:SFD) Cut to "Hold" at Wall Street Zen

Key Points

• Smithfield Foods (NASDAQ:SFD) was downgraded by Wall Street Zen from a "Buy" to a "Hold", while Weiss Ratings reiterated a "hold (c)"; the six analyst consensus remains a Moderate Buy with a $28.88 average price target.
• SFD shares opened at $23.12 with a market cap of $9.09 billion, a PE ratio of 10.41, and a 12‑month trading range of $18.55–$26.07, roughly in line with its 200‑day moving average of $23.01.
• Institutional activity has picked up recently, led by Fortress Investment (+110.3% to 201,055 shares) and Prudential Financial (+1,029.5% to 172,420 shares), while several firms initiated new stakes.

Smithfield Foods (NASDAQ:SFD - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Smithfield Foods in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Smithfield Foods presently has an average rating of "Moderate Buy" and a consensus price target of $28.88.

Smithfield Foods Trading Up 0.0%

SFD stock opened at $23.12 on Friday. The company has a market cap of $9.09 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.22 and a beta of 0.12. The stock has a 50-day moving average price of $24.06 and a two-hundred day moving average price of $23.01. Smithfield Foods has a 12-month low of $18.55 and a 12-month high of $26.07.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors have recently modified their holdings of SFD. Fortress Investment Group LLC boosted its position in shares of Smithfield Foods by 110.3% during the third quarter. Fortress Investment Group LLC now owns 201,055 shares of the company's stock worth $4,721,000 after buying an additional 105,464 shares during the period. Prudential Financial Inc. grew its holdings in Smithfield Foods by 1,029.5% in the 2nd quarter. Prudential Financial Inc. now owns 172,420 shares of the company's stock worth $4,057,000 after buying an additional 157,155 shares in the last quarter. Monashee Investment Management LLC acquired a new stake in Smithfield Foods in the 3rd quarter valued at approximately $4,226,000. Game Creek Capital LP acquired a new stake in Smithfield Foods in the 3rd quarter valued at approximately $1,849,000. Finally, Magnetar Financial LLC bought a new stake in Smithfield Foods during the 2nd quarter valued at $419,000.

About Smithfield Foods

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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