Brokerages Set Smithfield Foods, Inc (NASDAQ:SFD) PT at $27.86

Smithfield Foods, Inc (NASDAQ:SFD) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $27.86.

Several research analysts have recently commented on SFD shares. Barclays started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set an “overweight” rating and a $28.00 price target on the stock. Morgan Stanley assumed coverage on shares of Smithfield Foods in a research report on Tuesday, March 25th. They set an “overweight” rating and a $28.00 target price on the stock. Hsbc Global Res raised Smithfield Foods to a “strong-buy” rating in a research report on Tuesday, March 18th. Citigroup assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating and a $32.00 target price for the company.

Insider Buying and Selling

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the sale, the insider now directly owns 364,518,817 shares in the company, valued at $7,290,376,340. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Smithfield Foods

Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in shares of Smithfield Foods in the 1st quarter worth approximately $1,479,000. Pacer Advisors Inc. bought a new position in Smithfield Foods in the first quarter worth $34,000. Templeton & Phillips Capital Management LLC acquired a new stake in Smithfield Foods during the first quarter worth $408,000. Readystate Asset Management LP acquired a new stake in Smithfield Foods during the first quarter worth $7,784,000. Finally, New York State Common Retirement Fund bought a new stake in Smithfield Foods in the 1st quarter valued at $110,000.

Smithfield Foods Stock Down 1.0%

Shares of NASDAQ SFD opened at $22.41 on Friday. Smithfield Foods has a one year low of $18.43 and a one year high of $23.45. The company has a 50-day moving average price of $20.41. The stock has a market capitalization of $8.81 billion and a P/E ratio of 9.87.

Smithfield Foods (NASDAQ:SFD) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.56 billion. Smithfield Foods’s revenue for the quarter was up 9.5% on a year-over-year basis.

Smithfield Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.46%. Smithfield Foods’s payout ratio is presently 44.05%.

About Smithfield Foods

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.