Smithfield Foods (NASDAQ:SFD) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Smithfield Foods (NASDAQ:SFD) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

Several other research firms have also commented on SFD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Smithfield Foods in a research note on Friday, July 24th. Wall Street Zen downgraded shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 target price on shares of Smithfield Foods in a report on Wednesday. Bank of America dropped their price target on shares of Smithfield Foods from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Finally, Barclays cut their price target on shares of Smithfield Foods from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.50.

Smithfield Foods Trading Up 1.3%

Shares of NASDAQ SFD opened at $22.76 on Thursday. The business’s 50 day moving average is $25.28 and its two-hundred day moving average is $25.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.56 and a quick ratio of 1.29. Smithfield Foods has a 1-year low of $21.08 and a 1-year high of $29.81. The stock has a market capitalization of $8.96 billion, a P/E ratio of 8.49 and a beta of -0.44.

Smithfield Foods (NASDAQ:SFD) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $3.70 billion during the quarter. Smithfield Foods had a return on equity of 15.55% and a net margin of 6.84%.Smithfield Foods’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, research analysts expect that Smithfield Foods will post 2.45 EPS for the current year.

Smithfield Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Thursday, August 13th. Smithfield Foods’s dividend payout ratio is 48.83%.

Institutional Trading of Smithfield Foods

Several institutional investors and hedge funds have recently made changes to their positions in SFD. Altshuler Shaham Ltd purchased a new position in Smithfield Foods in the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Smithfield Foods during the 2nd quarter valued at about $29,000. Raymond James Financial Inc. purchased a new stake in Smithfield Foods in the 2nd quarter valued at about $29,000. Oakworth Capital Inc. purchased a new stake in Smithfield Foods in the 4th quarter valued at about $31,000. Finally, Group One Trading LLC bought a new position in Smithfield Foods in the 1st quarter worth about $31,000.

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.