Smithfield Foods (NASDAQ:SFD) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report)'s stock price 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.

Analyst Upgrades and Downgrades

SFD has been the subject of a number of recent research reports. 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 for the company. Citigroup assumed coverage on Smithfield Foods in a research note on Monday, February 24th. They set a "buy" rating and a $27.00 price objective on the stock. Barclays began coverage on Smithfield Foods in a research report on Monday, February 24th. They set an "overweight" rating and a $28.00 target price for the company. UBS Group began coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating on the stock. Finally, Bank of America assumed coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $28.00 price target for the company. One investment 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $27.86.

Smithfield Foods Price Performance

The company's 50 day moving average is $22.28. The company has a market cap of $9.20 billion and a P/E ratio of 10.31.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.56 billion. Smithfield Foods's revenue for the quarter was up 9.5% on a year-over-year basis.

Smithfield Foods Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.25 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 4.27%. Smithfield Foods's payout ratio is presently 44.05%.

Institutional Trading of Smithfield Foods

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in Smithfield Foods during the 1st quarter worth approximately $27,000. Amalgamated Bank acquired a new position in Smithfield Foods during the 1st quarter worth about $28,000. Pacer Advisors Inc. acquired a new position in Smithfield Foods during the 1st quarter worth about $34,000. Deutsche Bank AG bought a new stake in shares of Smithfield Foods in the 1st quarter valued at about $74,000. Finally, American Capital Advisory LLC bought a new stake in shares of Smithfield Foods in the 1st quarter valued at about $102,000.

About Smithfield Foods

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.