Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report)'s share 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 $23.44. Smithfield Foods shares last traded at $23.08, with a volume of 510,468 shares.
Analyst Ratings Changes
SFD has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating and a $32.00 price objective for the company. HSBC started coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They set a "buy" rating and a $29.00 price objective on the stock. Hsbc Global Res upgraded shares of Smithfield Foods to a "strong-buy" rating in a research note on Tuesday, March 18th. Bank of America started coverage on Smithfield Foods in a report on Monday, February 24th. They issued a "buy" rating and a $28.00 target price on the stock. Finally, Citigroup started coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Smithfield Foods has an average rating of "Buy" and an average target price of $27.86.
Get Our Latest Stock Analysis on Smithfield Foods
Smithfield Foods Stock Down 1.0%
The stock's 50-day simple moving average is $20.66. The stock has a market cap of $9.07 billion and a PE ratio of 10.17.
Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share (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 company's revenue for the quarter was up 9.5% compared to the same quarter last year.
Smithfield Foods Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.33%. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.
Insiders Place Their Bets
In related news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the completion of the transaction, the insider now directly owns 364,518,817 shares of the company's stock, valued at approximately $7,290,376,340. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.79% of the company's stock.
Institutional Investors Weigh In On Smithfield Foods
A number of large investors have recently added to or reduced their stakes in SFD. PNC Financial Services Group Inc. bought a new position in Smithfield Foods during the 1st quarter worth $27,000. Amalgamated Bank acquired a new position in shares of Smithfield Foods in the 1st quarter valued at about $28,000. Pacer Advisors Inc. bought a new position in Smithfield Foods during the first quarter worth $34,000. Deutsche Bank AG bought a new stake in shares of Smithfield Foods during the first quarter valued at approximately $74,000. Finally, American Capital Advisory LLC acquired a new stake in shares of Smithfield Foods in the 1st quarter worth about $102,000.
Smithfield Foods Company Profile
(
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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