AXQ Capital LP Takes Position in Smithfield Foods, Inc. $SFD

AXQ Capital LP bought a new position in Smithfield Foods, Inc. (NASDAQ:SFD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 59,468 shares of the company’s stock, valued at approximately $1,396,000. Smithfield Foods makes up 0.5% of AXQ Capital LP’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Smithfield Foods in the 2nd quarter worth about $31,295,000. Fourth Sail Capital LP purchased a new position in shares of Smithfield Foods during the 2nd quarter valued at about $18,424,000. Systematic Financial Management LP lifted its position in Smithfield Foods by 377.3% in the 2nd quarter. Systematic Financial Management LP now owns 653,717 shares of the company’s stock worth $15,382,000 after buying an additional 516,767 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Smithfield Foods in the 2nd quarter worth approximately $8,314,000. Finally, DAVENPORT & Co LLC boosted its stake in Smithfield Foods by 18.8% in the third quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock worth $8,102,000 after buying an additional 54,734 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Smithfield Foods in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.90.

Smithfield Foods Price Performance

Shares of Smithfield Foods stock opened at $25.19 on Tuesday. Smithfield Foods, Inc. has a 1 year low of $18.43 and a 1 year high of $26.07. The firm’s 50-day moving average is $23.41 and its 200 day moving average is $23.16. The stock has a market cap of $9.90 billion and a price-to-earnings ratio of 11.35.

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.