Shares of Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $24.24. Smithfield Foods shares last traded at $24.22, with a volume of 766,721 shares.
Analysts Set New Price Targets
SFD has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Smithfield Foods in a report on Tuesday, March 25th. They set an "overweight" rating and a $28.00 price target on the stock. Hsbc Global Res upgraded shares of Smithfield Foods to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, HSBC assumed coverage on shares of Smithfield Foods in a report on Tuesday, March 18th. They set a "buy" rating and a $29.00 price target for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Smithfield Foods presently has an average rating of "Buy" and an average price target of $27.86.
Check Out Our Latest Analysis on SFD
Smithfield Foods Stock Performance
The firm has a market capitalization of $9.61 billion and a PE ratio of 10.77. The firm's 50 day simple moving average is $22.91.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.56 billion. The firm's quarterly revenue was up 9.5% on a year-over-year basis.
Smithfield Foods Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Thursday, May 15th. Smithfield Foods's dividend payout ratio is currently 44.05%.
Institutional Trading of Smithfield Foods
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SFD. Renaissance Capital LLC acquired a new position in shares of Smithfield Foods in the 1st quarter worth approximately $1,040,000. Oppenheimer & Co. Inc. bought a new position in Smithfield Foods during the first quarter worth $213,000. Amalgamated Bank acquired a new position in Smithfield Foods in the first quarter valued at $28,000. DAVENPORT & Co LLC bought a new stake in Smithfield Foods during the first quarter valued at $2,587,000. Finally, American Capital Advisory LLC acquired a new stake in Smithfield Foods during the 1st quarter worth about $102,000.
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.
Further Reading
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