Smithfield Foods (NASDAQ:SFD) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Shares of Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $23.99. Smithfield Foods shares last traded at $23.90, with a volume of 507,070 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Smithfield Foods in a research report on Tuesday, March 25th. They set an "overweight" rating and a $28.00 target price on the stock. UBS Group assumed coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating and a $32.00 target price on the stock. BNP Paribas initiated coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a "neutral" rating and a $23.00 price objective 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 objective 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. According to data from MarketBeat, Smithfield Foods has a consensus rating of "Buy" and a consensus target price of $27.86.

Smithfield Foods Trading Up 0.0%

The stock's 50 day moving average is $22.13.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $3.77 billion during 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 15th. Smithfield Foods's dividend payout ratio is 44.05%.

Institutional Investors Weigh In On Smithfield Foods

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new position in Smithfield Foods in the first quarter valued at $27,000. Amalgamated Bank bought a new position in Smithfield Foods in the first quarter valued at $28,000. Pacer Advisors Inc. bought a new position in Smithfield Foods in the first quarter valued at $34,000. Deutsche Bank AG bought a new position in Smithfield Foods in the first quarter valued at $74,000. Finally, American Capital Advisory LLC bought a new position in Smithfield Foods in the first quarter valued at $102,000.

Smithfield Foods Company Profile

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.