Smithfield Foods (NASDAQ:SFD) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Smithfield Foods, Inc (NASDAQ:SFD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $23.99. Smithfield Foods shares last traded at $23.90, with a volume of 507,070 shares trading hands.

Analysts Set New Price Targets

SFD has been the subject of a number of research reports. HSBC initiated coverage on shares of Smithfield Foods in a report on Tuesday, March 18th. They issued a “buy” rating and a $29.00 price objective for the company. Morgan Stanley started coverage on shares of Smithfield Foods in a research report on Tuesday, March 25th. They set an “overweight” rating and a $28.00 price objective for the company. Bank of America started coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They issued a “buy” rating and a $28.00 price target for the company. BNP Paribas assumed coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a “neutral” rating and a $23.00 price objective for the company. Finally, UBS Group assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Smithfield Foods presently has an average rating of “Buy” and a consensus target price of $27.86.

Smithfield Foods Stock Up 1.4%

The stock has a market capitalization of $9.40 billion and a P/E ratio of 10.53. The firm has a 50 day moving average price of $22.06.

Smithfield Foods (NASDAQ:SFD) last released its earnings results on Tuesday, April 29th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.56 billion. Smithfield Foods’s revenue was up 9.5% compared to the same quarter last year.

Smithfield Foods Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.18%. Smithfield Foods’s dividend payout ratio (DPR) is presently 44.05%.

Hedge Funds Weigh In On Smithfield Foods

A number of hedge funds have recently added to or reduced their stakes in SFD. Zimmer Partners LP acquired a new stake in Smithfield Foods in the first quarter worth about $56,087,000. Millennium Management LLC acquired a new stake in Smithfield Foods in the first quarter worth about $46,687,000. Park West Asset Management LLC acquired a new stake in Smithfield Foods in the first quarter worth about $35,621,000. Alberta Investment Management Corp bought a new stake in Smithfield Foods in the first quarter worth about $25,488,000. Finally, Alyeska Investment Group L.P. bought a new stake in Smithfield Foods in the first quarter worth about $20,331,000.

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.