Readystate Asset Management LP Sells 77,633 Shares of Smithfield Foods, Inc. $SFD

Readystate Asset Management LP cut its holdings in Smithfield Foods, Inc. (NASDAQ:SFD) by 37.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 132,300 shares of the company’s stock after selling 77,633 shares during the period. Readystate Asset Management LP’s holdings in Smithfield Foods were worth $3,106,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Smithfield Foods during the second quarter worth approximately $31,295,000. Fourth Sail Capital LP acquired a new position in Smithfield Foods in the 2nd quarter valued at $18,424,000. Systematic Financial Management LP lifted its position in shares of Smithfield Foods by 377.3% during the 2nd quarter. Systematic Financial Management LP now owns 653,717 shares of the company’s stock valued at $15,382,000 after acquiring an additional 516,767 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Smithfield Foods during the 2nd quarter worth $8,314,000. Finally, DAVENPORT & Co LLC grew its holdings in shares of Smithfield Foods by 18.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock worth $8,102,000 after purchasing an additional 54,734 shares in the last quarter.

Smithfield Foods Stock Performance

NASDAQ:SFD opened at $24.94 on Wednesday. Smithfield Foods, Inc. has a fifty-two week low of $18.43 and a fifty-two week high of $26.07. The company has a 50 day simple moving average of $23.20 and a two-hundred day simple moving average of $23.17. The company has a market capitalization of $9.80 billion and a PE ratio of 11.23.

Analyst Ratings Changes

Several equities analysts have recently commented on SFD shares. Wall Street Zen cut shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.31.

Smithfield Foods 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.