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

Readystate Asset Management LP lessened its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 37.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Strs Ohio raised its holdings in Smithfield Foods by 76.5% in the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after acquiring an additional 468 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Smithfield Foods by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock valued at $26,000 after purchasing an additional 515 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Smithfield Foods in the second quarter valued at $29,000. CWM LLC bought a new position in Smithfield Foods in the second quarter worth $30,000. Finally, New York State Teachers Retirement System acquired a new stake in Smithfield Foods during the second quarter worth $55,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SFD shares. Wall Street Zen lowered shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. One investment 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, Smithfield Foods presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.31.

Smithfield Foods Stock Down 0.8%

SFD stock opened at $24.94 on Wednesday. The business’s fifty day moving average is $23.20 and its 200-day moving average is $23.17. The company has a market cap of $9.80 billion and a P/E ratio of 11.23. Smithfield Foods, Inc. has a twelve month low of $18.43 and a twelve month high of $26.07.

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.