Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $24.68 and last traded at $24.32, with a volume of 10572 shares traded. The stock had previously closed at $24.45.
Analysts Set New Price Targets
A number of brokerages have commented on SFD. HSBC initiated coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They set a "buy" rating and a $29.00 target price on the stock. Hsbc Global Res raised Smithfield Foods to a "strong-buy" rating in a report on Tuesday, March 18th. Finally, Morgan Stanley assumed coverage on Smithfield Foods in a research note on Tuesday, March 25th. They set an "overweight" rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $27.86.
Read Our Latest Stock Report on SFD
Smithfield Foods Price Performance
The company has a market cap of $9.43 billion and a price-to-earnings ratio of 10.57. The company has a fifty day moving average of $23.21.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.11. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.56 billion. The business's revenue for the quarter was up 9.5% compared to the same quarter last year.
Smithfield Foods Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.17%. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.
Institutional Investors Weigh In On Smithfield Foods
Several large investors have recently made changes to their positions in SFD. Oppenheimer & Co. Inc. bought a new position in shares of Smithfield Foods in the 1st quarter valued at $213,000. Teacher Retirement System of Texas bought a new position in shares of Smithfield Foods in the first quarter valued at approximately $8,156,000. DAVENPORT & Co LLC bought a new position in Smithfield Foods during the first quarter valued at about $2,587,000. Renaissance Capital LLC bought a new position in Smithfield Foods in the 1st quarter worth about $1,040,000. Finally, American Capital Advisory LLC purchased a new position in Smithfield Foods during the first quarter valued at approximately $102,000.
About Smithfield Foods
(
Get Free Report)
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.
Read More
Before you consider Smithfield Foods, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Smithfield Foods wasn't on the list.
While Smithfield Foods currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
