Smithfield Foods, Inc (NASDAQ:SFD) Receives Consensus Recommendation of "Buy" from Analysts

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) has been assigned an average rating of "Buy" from the nine ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $27.86.

Several analysts have recently issued reports on SFD shares. BNP Paribas started coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a "neutral" rating and a $23.00 target price on the stock. HSBC began coverage on Smithfield Foods in a research report on Tuesday, March 18th. They set a "buy" rating and a $29.00 price objective on the stock. Hsbc Global Res upgraded Smithfield Foods to a "strong-buy" rating in a report on Tuesday, March 18th. Citigroup assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating and a $27.00 price target on the stock. Finally, Barclays started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set an "overweight" rating and a $28.00 price objective for the company.

Smithfield Foods Stock Up 2.6 %

Shares of Smithfield Foods stock traded up $0.52 on Tuesday, hitting $20.37. 477,313 shares of the company traded hands, compared to its average volume of 840,311. The company's 50-day moving average price is $20.14. Smithfield Foods has a 52 week low of $18.43 and a 52 week high of $22.03. The firm has a market cap of $8.01 billion and a PE ratio of 8.97.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.91 billion.

Smithfield Foods Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 10th. Smithfield Foods's dividend payout ratio is presently 44.05%.

Insider Activity

In other Smithfield Foods news, CEO Charles Shane Smith purchased 30,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were bought at an average price of $20.00 per share, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now owns 120,000 shares of the company's stock, valued at $2,400,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $20.00, for a total value of $260,869,580.00. Following the completion of the sale, the insider now owns 367,025,753 shares of the company's stock, valued at $7,340,515,060. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 59,000 shares of company stock valued at $1,180,000 in the last quarter. 1.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Smithfield Foods

A hedge fund recently bought a new stake in Smithfield Foods stock. Renaissance Capital LLC purchased a new position in shares of Smithfield Foods, Inc (NASDAQ:SFD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,019 shares of the company's stock, valued at approximately $1,040,000. Smithfield Foods comprises about 0.8% of Renaissance Capital LLC's investment portfolio, making the stock its 25th largest position.

Smithfield Foods Company Profile

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.