Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $24.27 and last traded at $24.27, with a volume of 7274 shares trading hands. The stock had previously closed at $23.56.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. HSBC assumed coverage on Smithfield Foods in a research note on Tuesday, March 18th. They issued a "buy" rating and a $29.00 price target for the company. Hsbc Global Res raised Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. Finally, Morgan Stanley started coverage on Smithfield Foods in a research note on Tuesday, March 25th. They set an "overweight" rating and a $28.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Smithfield Foods presently has an average rating of "Buy" and a consensus price target of $27.86.
View Our Latest Analysis on SFD
Smithfield Foods Price Performance
The company has a fifty day moving average price of $22.50. The stock has a market capitalization of $9.07 billion and a PE ratio of 10.16.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.11. The business had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.56 billion. Smithfield Foods's revenue was up 9.5% compared to the same quarter last year.
Smithfield Foods Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders 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 4.34%. Smithfield Foods's payout ratio is currently 44.05%.
Institutional Trading of Smithfield Foods
Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new position in Smithfield Foods in the first quarter worth about $394,000. Zimmer Partners LP bought a new stake in shares of Smithfield Foods in the 1st quarter valued at approximately $56,087,000. Goldman Sachs Group Inc. purchased a new position in shares of Smithfield Foods in the 1st quarter worth approximately $3,195,000. Park West Asset Management LLC purchased a new position in shares of Smithfield Foods in the 1st quarter worth approximately $35,621,000. Finally, Millennium Management LLC bought a new position in shares of Smithfield Foods during the 1st quarter valued at approximately $46,687,000.
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.
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