Smithfield Foods (NASDAQ:SFD) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of Smithfield Foods, Inc. (NASDAQ:SFD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.11 and traded as high as $24.33. Smithfield Foods shares last traded at $24.25, with a volume of 954,969 shares.

Analysts Set New Price Targets

SFD has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Wall Street Zen raised shares of Smithfield Foods from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. One 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

Smithfield Foods Trading Down 0.1%

The stock has a market cap of $9.53 billion, a P/E ratio of 10.92, a P/E/G ratio of 1.28 and a beta of 0.12. The firm’s fifty day moving average is $23.82 and its 200 day moving average is $23.11.

Hedge Funds Weigh In On Smithfield Foods

Several large investors have recently made changes to their positions in the business. Strs Ohio boosted its stake in Smithfield Foods by 76.5% during the 3rd quarter. Strs Ohio now owns 1,080 shares of the company’s stock valued at $25,000 after purchasing an additional 468 shares during the period. Altshuler Shaham Ltd bought a new position in Smithfield Foods in the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Smithfield Foods by 88.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after buying an additional 515 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Smithfield Foods during the second quarter worth approximately $29,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Smithfield Foods in the fourth quarter valued at approximately $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.