Smithfield Foods (NASDAQ:SFD) Stock Rating Upgraded by Wall Street Zen

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

Several other research analysts have also commented on SFD. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Morgan Stanley set a $29.00 price target on shares of Smithfield Foods and gave the company an “overweight” rating in a research report on Thursday, October 16th. Bank of America lowered their price objective on shares of Smithfield Foods from $30.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Zacks Research cut Smithfield Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.31.

Smithfield Foods Stock Performance

Shares of SFD stock opened at $23.90 on Friday. Smithfield Foods has a fifty-two week low of $18.43 and a fifty-two week high of $26.07. The firm has a market cap of $9.40 billion and a P/E ratio of 10.77. The business’s 50 day moving average price is $22.48 and its 200-day moving average price is $23.13.

Smithfield Foods (NASDAQ:SFD) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.58 billion. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in shares of Smithfield Foods by 76.5% in 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. raised its position in shares of Smithfield Foods by 88.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after purchasing an additional 515 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Smithfield Foods in the 2nd quarter worth about $29,000. CWM LLC bought a new position in Smithfield Foods in the 2nd quarter worth about $30,000. Finally, Oakworth Capital Inc. purchased a new stake in Smithfield Foods during the 4th quarter valued at about $31,000.

About Smithfield Foods

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.