Counterpoint Mutual Funds LLC Makes New $503,000 Investment in Smithfield Foods, Inc. $SFD

Counterpoint Mutual Funds LLC bought a new position in shares of Smithfield Foods, Inc. (NASDAQ:SFD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,432 shares of the company’s stock, valued at approximately $503,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Smithfield Foods in the 2nd quarter valued at approximately $31,295,000. Fourth Sail Capital LP acquired a new stake in Smithfield Foods in the second quarter valued at $18,424,000. Systematic Financial Management LP raised its holdings in shares of Smithfield Foods by 377.3% in the 2nd quarter. Systematic Financial Management LP now owns 653,717 shares of the company’s stock valued at $15,382,000 after purchasing an additional 516,767 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Smithfield Foods in the 2nd quarter valued at about $8,314,000. Finally, DAVENPORT & Co LLC lifted its stake in Smithfield Foods by 18.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock valued at $8,102,000 after purchasing an additional 54,734 shares during the last quarter.

Smithfield Foods Trading Up 0.8%

Shares of SFD opened at $25.38 on Wednesday. The firm’s 50 day moving average is $23.47 and its 200-day moving average is $23.16. Smithfield Foods, Inc. has a 12 month low of $18.43 and a 12 month high of $26.07. The stock has a market capitalization of $9.98 billion and a PE ratio of 11.43.

Wall Street Analysts Forecast Growth

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

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.