Smithfield Foods (NASDAQ:SFD) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Smithfield Foods, Inc. (NASDAQ:SFD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.36 and traded as high as $26.81. Smithfield Foods shares last traded at $26.44, with a volume of 1,252,101 shares traded.

Wall Street Analysts Forecast Growth

SFD has been the topic of a number of recent analyst reports. Wall Street Zen lowered Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays lifted their price target on Smithfield Foods from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Bank of America cut their price objective on Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Zacks Research lowered shares of Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Finally, Weiss Ratings upgraded shares of Smithfield Foods from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Smithfield Foods Stock Performance

The firm’s 50 day simple moving average is $25.57 and its 200-day simple moving average is $25.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.29 and a current ratio of 2.41. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 10.26 and a beta of -0.41.

Smithfield Foods (NASDAQ:SFD) last issued its earnings results on Tuesday, April 28th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.58 by $0.06. Smithfield Foods had a return on equity of 15.54% and a net margin of 6.48%.The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the firm posted $0.58 earnings per share. Smithfield Foods’s revenue was up .8% compared to the same quarter last year. Analysts expect that Smithfield Foods, Inc. will post 2.7 EPS for the current year.

Smithfield Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a dividend of $0.3125 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.25 dividend on an annualized basis and a yield of 4.8%. Smithfield Foods’s dividend payout ratio (DPR) is presently 48.83%.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors and hedge funds have recently bought and sold shares of SFD. Royal Bank of Canada purchased a new stake in shares of Smithfield Foods in the first quarter worth approximately $1,456,000. Goldman Sachs Group Inc. purchased a new position in Smithfield Foods during the first quarter valued at approximately $3,195,000. Cetera Investment Advisers acquired a new position in Smithfield Foods in the 2nd quarter valued at approximately $485,000. JPMorgan Chase & Co. increased its stake in Smithfield Foods by 7,016.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,363 shares of the company’s stock valued at $856,000 after buying an additional 35,852 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Smithfield Foods by 267.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 53,025 shares of the company’s stock worth $1,248,000 after buying an additional 38,580 shares in the last quarter.

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.