Smithfield Foods (NASDAQ:SFD) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $20.10. Smithfield Foods shares last traded at $19.76, with a volume of 540,208 shares.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SFD shares. Bank of America began coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a "buy" rating and a $28.00 price objective for the company. The Goldman Sachs Group assumed coverage on Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating and a $32.00 price target on the stock. Morgan Stanley started coverage on Smithfield Foods in a report on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 price objective for the company. UBS Group started coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating on the stock. Finally, BNP Paribas began coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "neutral" rating and a $23.00 price target on the stock. 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $27.86.

Smithfield Foods Trading Down 0.3 %

The company has a market capitalization of $7.83 billion and a price-to-earnings ratio of 8.77. The business's 50 day moving average is $19.99.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.91 billion.

Smithfield Foods Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 10th. Smithfield Foods's payout ratio is 44.05%.

Insider Activity at Smithfield Foods

In other Smithfield Foods news, CEO Charles Shane Smith purchased 30,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now owns 120,000 shares in the company, valued at $2,400,000. The trade was a 33.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tennille J. Checkovich purchased 2,000 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $20.00 per share, with a total value of $40,000.00. Following the completion of the transaction, the insider now owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 59,000 shares of company stock valued at $1,180,000 in the last quarter. Insiders own 1.79% of the company's stock.

Hedge Funds Weigh In On Smithfield Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new stake in shares of Smithfield Foods during the first quarter worth $28,000. American Capital Advisory LLC acquired a new stake in shares of Smithfield Foods during the first quarter worth $102,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Smithfield Foods during the first quarter worth $213,000. Renaissance Capital LLC acquired a new stake in shares of Smithfield Foods during the first quarter worth $1,040,000. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Smithfield Foods during the first quarter worth $2,587,000.

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.