Algert Global LLC Buys 154,693 Shares of Smithfield Foods, Inc. $SFD

Algert Global LLC lifted its stake in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 43.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 509,676 shares of the company’s stock after purchasing an additional 154,693 shares during the period. Algert Global LLC owned 0.13% of Smithfield Foods worth $11,967,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Balyasny Asset Management L.P. raised its stake in Smithfield Foods by 653.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,664,585 shares of the company’s stock valued at $39,084,000 after acquiring an additional 1,443,605 shares during the period. Norges Bank bought a new position in Smithfield Foods in the 2nd quarter worth approximately $31,295,000. Systematic Financial Management LP boosted its holdings 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 period. UBS Group AG grew its stake in Smithfield Foods by 186.5% in the 3rd quarter. UBS Group AG now owns 694,438 shares of the company’s stock valued at $16,305,000 after buying an additional 452,075 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Smithfield Foods by 423.3% in the 3rd quarter. Two Sigma Investments LP now owns 496,662 shares of the company’s stock valued at $11,662,000 after buying an additional 401,757 shares in the last quarter.

Smithfield Foods Stock Up 0.2%

NASDAQ:SFD opened at $23.42 on Monday. The business’s 50-day moving average price is $23.92 and its two-hundred day moving average price is $23.05. Smithfield Foods, Inc. has a twelve month low of $18.55 and a twelve month high of $26.07. The stock has a market cap of $9.21 billion, a P/E ratio of 10.55, a PEG ratio of 1.23 and a beta of 0.12.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SFD shares. Wall Street Zen raised Smithfield Foods from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings restated 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 issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.90.

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.