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

Smithfield Foods (NASDAQ:SFD) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Smithfield Foods currently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

Smithfield Foods Stock Up 0.0%

Shares of NASDAQ SFD opened at $23.12 on Friday. The stock has a market cap of $9.09 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.22 and a beta of 0.12. The firm’s 50-day simple moving average is $24.06 and its 200 day simple moving average is $23.01. Smithfield Foods has a fifty-two week low of $18.55 and a fifty-two week high of $26.07.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SFD. Hsbc Holdings PLC lifted its holdings in shares of Smithfield Foods by 45.5% during the 4th quarter. Hsbc Holdings PLC now owns 166,250 shares of the company’s stock valued at $3,706,000 after buying an additional 51,977 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Smithfield Foods in the fourth quarter worth approximately $4,856,000. Invesco Ltd. increased 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 buying an additional 144,714 shares during the last quarter. Vident Advisory LLC raised its position in Smithfield Foods by 24.0% during 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 in the last quarter. Finally, Empowered Funds LLC bought a new position in Smithfield Foods during the fourth quarter valued at approximately $245,000.

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.