Smithfield Foods (NASDAQ:SFD) Upgraded to Buy at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.90.

Smithfield Foods Stock Performance

NASDAQ SFD opened at $24.88 on Friday. The firm’s fifty day moving average price is $23.58 and its two-hundred day moving average price is $23.18. The stock has a market cap of $9.78 billion and a PE ratio of 11.21. Smithfield Foods has a fifty-two week low of $18.43 and a fifty-two week high of $26.07.

Institutional Investors Weigh In On Smithfield Foods

A number of institutional investors have recently made changes to their positions in the stock. Strs Ohio raised its position in shares of Smithfield Foods by 76.5% during the third quarter. Strs Ohio now owns 1,080 shares of the company’s stock worth $25,000 after acquiring an additional 468 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Smithfield Foods by 88.2% during the 3rd 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. Parallel Advisors LLC raised its holdings in Smithfield Foods by 46.2% during the 4th quarter. Parallel Advisors LLC now owns 2,328 shares of the company’s stock worth $52,000 after purchasing an additional 736 shares during the last quarter. Verition Fund Management LLC raised its holdings in Smithfield Foods by 1.1% during the 3rd quarter. Verition Fund Management LLC now owns 68,812 shares of the company’s stock worth $1,616,000 after purchasing an additional 739 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in shares of Smithfield Foods in the 4th quarter worth approximately $25,000.

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.