Smithfield Foods (NASDAQ:SFD) Share Price Passes Above 200 Day Moving Average - What's Next?

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 $23.06. Smithfield Foods shares last traded at $22.91, with a volume of 388,313 shares traded.

Wall Street Analysts Forecast Growth

SFD has been the subject of several recent research reports. Bank of America assumed coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating and a $28.00 target price for the company. Barclays initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set an "overweight" rating and a $28.00 price objective for the company. Morgan Stanley assumed coverage on Smithfield Foods in a report on Tuesday, March 25th. They issued an "overweight" rating and a $28.00 target price on the stock. UBS Group started coverage on Smithfield Foods in a research note on Monday, February 24th. They set a "buy" rating on the stock. Finally, Citigroup began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $27.00 target price 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $27.86.

Smithfield Foods Stock Performance

The firm has a market capitalization of $9.23 billion and a price-to-earnings ratio of 10.35. The stock's fifty day simple moving average is $21.31.

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, topping 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. The business's quarterly revenue was up 9.5% on a year-over-year basis.

Smithfield Foods Announces Dividend

The firm also recently declared 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. The ex-dividend date was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.26%. Smithfield Foods's dividend payout ratio (DPR) is presently 44.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new position in Smithfield Foods in the 1st quarter worth $27,000. Amalgamated Bank bought a new position in Smithfield Foods in the first quarter worth $28,000. Pacer Advisors Inc. bought a new stake in shares of Smithfield Foods during the 1st quarter valued at $34,000. Deutsche Bank AG purchased a new stake in shares of Smithfield Foods in the 1st quarter worth about $74,000. Finally, American Capital Advisory LLC bought a new position in shares of Smithfield Foods in the 1st quarter worth about $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.