Smithfield Foods (NASDAQ:SFD) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Smithfield Foods' share price has recently crossed above its 200-day moving average of $22.25, reaching a peak of $26.07 during trading.
• Analysts have shown positive sentiment, with Morgan Stanley and Barclays increasing their target prices to $30.00 and UBS raising theirs to $28.50, contributing to an average price target of $28.44.
• The company announced a quarterly dividend of $0.25 per share, representing a 3.9% yield, to be paid on August 28th to investors of record.

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.25 and traded as high as $26.07. Smithfield Foods shares last traded at $25.94, with a volume of 902,442 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SFD shares. Morgan Stanley upped their target price on shares of Smithfield Foods from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. UBS Group reaffirmed a "buy" rating and set a $28.50 target price (up previously from $25.00) on shares of Smithfield Foods in a report on Wednesday, August 13th. Zacks Research raised shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Barclays upped their target price on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Smithfield Foods has an average rating of "Buy" and an average price target of $28.44.

Smithfield Foods Stock Up 0.9%

The firm's 50-day moving average is $24.29 and its 200-day moving average is $22.25. The company has a market capitalization of $10.20 billion and a PE ratio of 11.43.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.62 billion. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. Smithfield Foods's dividend payout ratio (DPR) is currently 44.05%.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors and hedge funds have recently made changes to their positions in SFD. Zimmer Partners LP bought a new position in shares of Smithfield Foods during the 1st quarter valued at $56,087,000. Millennium Management LLC bought a new position in shares of Smithfield Foods during the 1st quarter valued at $46,687,000. Park West Asset Management LLC bought a new position in shares of Smithfield Foods during the 1st quarter valued at $35,621,000. Norges Bank bought a new position in shares of Smithfield Foods during the 2nd quarter valued at $31,295,000. Finally, Alberta Investment Management Corp bought a new position in shares of Smithfield Foods during the 1st quarter valued at $25,488,000.

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.

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