Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $23.55 and last traded at $23.48, with a volume of 113781 shares traded. The stock had previously closed at $23.32.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. BNP Paribas started coverage on Smithfield Foods in a research note on Monday, February 24th. They set a "neutral" rating and a $23.00 target price for the company. HSBC started coverage on shares of Smithfield Foods in a report on Tuesday, March 18th. They issued a "buy" rating and a $29.00 price objective on the stock. Hsbc Global Res upgraded shares of Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. Bank of America began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $28.00 price target on the stock. Finally, Barclays initiated coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $27.86.
Check Out Our Latest Stock Analysis on Smithfield Foods
Smithfield Foods Price Performance
The stock has a 50-day moving average price of $21.39. The firm has a market capitalization of $9.15 billion and a price-to-earnings ratio of 10.26.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate 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 declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.30%. Smithfield Foods's dividend payout ratio (DPR) is currently 44.05%.
Hedge Funds Weigh In On Smithfield Foods
Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers bought a new position in Smithfield Foods during the first quarter worth $394,000. Zimmer Partners LP acquired a new position in shares of Smithfield Foods in the 1st quarter valued at about $56,087,000. Goldman Sachs Group Inc. bought a new stake in shares of Smithfield Foods during the 1st quarter valued at about $3,195,000. Park West Asset Management LLC acquired a new stake in Smithfield Foods during the first quarter worth approximately $35,621,000. Finally, Millennium Management LLC bought a new stake in Smithfield Foods in the first quarter worth approximately $46,687,000.
Smithfield Foods Company Profile
(
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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.
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