Smithfield Foods (NASDAQ:SFD) Cut to Hold at Wall Street Zen

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

Other research analysts have also issued research reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. Morgan Stanley set a $29.00 price target on Smithfield Foods and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Smithfield Foods presently has a consensus rating of “Moderate Buy” and an average target price of $28.31.

Smithfield Foods Trading Down 0.4%

Smithfield Foods stock opened at $24.47 on Friday. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $26.07. The firm has a 50-day moving average price of $22.78 and a 200-day moving average price of $23.14. The firm has a market capitalization of $9.62 billion and a PE ratio of 11.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its holdings in Smithfield Foods by 54.6% during the 4th quarter. Covestor Ltd now owns 7,548 shares of the company’s stock worth $169,000 after purchasing an additional 2,667 shares during the period. Stephens Inc. AR bought a new position in shares of Smithfield Foods during the 4th quarter worth $423,000. American Capital Advisory LLC increased its stake in shares of Smithfield Foods by 38.0% during the fourth quarter. American Capital Advisory LLC now owns 6,900 shares of the company’s stock valued at $154,000 after buying an additional 1,900 shares during the period. Oakworth Capital Inc. purchased a new position in shares of Smithfield Foods during the fourth quarter valued at $31,000. Finally, UBS Group AG raised its holdings in shares of Smithfield Foods by 47.4% in the fourth quarter. UBS Group AG now owns 1,023,625 shares of the company’s stock valued at $22,858,000 after acquiring an additional 329,187 shares in the last quarter.

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.