Smithfield Foods (NASDAQ:SFD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Smithfield Foods (NASDAQ:SFD) from a buy rating to a hold rating in a report issued on Sunday morning.

A number of other research analysts have also recently commented on SFD. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Morgan Stanley set a $29.00 price target on shares of Smithfield Foods and gave the company an “overweight” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.31.

Smithfield Foods Stock Performance

Shares of Smithfield Foods stock opened at $24.33 on Friday. The stock has a 50 day moving average of $22.89 and a 200 day moving average of $23.14. The firm has a market capitalization of $9.56 billion and a price-to-earnings ratio of 10.96. Smithfield Foods has a fifty-two week low of $18.43 and a fifty-two week high of $26.07.

Smithfield Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. Smithfield Foods’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Investors Weigh In On Smithfield Foods

Large investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its position in Smithfield Foods by 76.5% in the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after buying an additional 468 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Smithfield Foods by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after acquiring an additional 515 shares during the period. Verition Fund Management LLC raised its stake in shares of Smithfield Foods by 1.1% in the third quarter. Verition Fund Management LLC now owns 68,812 shares of the company’s stock valued at $1,616,000 after acquiring an additional 739 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Smithfield Foods in the second quarter valued at $29,000. Finally, CWM LLC acquired a new position in Smithfield Foods during the 2nd quarter worth $30,000.

Smithfield Foods Company Profile

Smithfield Foods, Inc (NASDAQ: SFD) is one of the world’s largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan’s Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.