Smithfield Foods, Inc. (NASDAQ:SFD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Smithfield Foods, Inc. (NASDAQ:SFD) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $28.90.

Several equities analysts recently issued reports on SFD shares. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Wall Street Zen raised Smithfield Foods from a “hold” rating to a “buy” rating in a research note on Saturday.

Hedge Funds Weigh In On Smithfield Foods

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in shares of Smithfield Foods in the 4th quarter valued at about $4,856,000. Invesco Ltd. boosted its holdings in Smithfield Foods by 193.6% in the fourth quarter. Invesco Ltd. now owns 219,450 shares of the company’s stock worth $4,900,000 after acquiring an additional 144,714 shares in the last quarter. Vident Advisory LLC grew its stake in Smithfield Foods by 24.0% in the fourth quarter. Vident Advisory LLC now owns 43,296 shares of the company’s stock valued at $967,000 after acquiring an additional 8,386 shares during the period. Empowered Funds LLC acquired a new stake in Smithfield Foods in the fourth quarter valued at approximately $245,000. Finally, Zimmer Partners LP increased its holdings in shares of Smithfield Foods by 13.8% during the fourth quarter. Zimmer Partners LP now owns 2,090,000 shares of the company’s stock valued at $46,670,000 after acquiring an additional 253,286 shares in the last quarter.

Smithfield Foods Trading Up 1.0%

Shares of SFD opened at $24.88 on Friday. The stock’s 50-day moving average price is $23.58 and its two-hundred day moving average price is $23.17. Smithfield Foods has a 12 month low of $18.43 and a 12 month high of $26.07. The company has a market capitalization of $9.78 billion and a PE ratio of 11.21.

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.