Bank of America lowered shares of Smithfield Foods (NASDAQ:SFD – Free Report) from a buy rating to a neutral rating in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage currently has $21.00 price objective on the stock.
SFD has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Smithfield Foods from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, September 29th. Barclays decreased their target price on shares of Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft set a $21.00 target price on Smithfield Foods in a report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $32.00 price target on shares of Smithfield Foods in a research report on Wednesday, August 12th. Finally, Zacks Research lowered Smithfield Foods from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.
Read Our Latest Research Report on SFD
Smithfield Foods Price Performance
Smithfield Foods (NASDAQ:SFD – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.70 billion for the quarter. Smithfield Foods had a net margin of 6.84% and a return on equity of 15.55%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities analysts predict that Smithfield Foods will post 2.03 earnings per share for the current fiscal year.
Smithfield Foods Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 6.7%. The ex-dividend date was Thursday, August 13th. Smithfield Foods’s payout ratio is currently 46.64%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Smithfield Foods during the second quarter worth about $29,000. Group One Trading LLC purchased a new position in Smithfield Foods during the first quarter worth about $31,000. Altshuler Shaham Ltd raised its stake in Smithfield Foods by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 1,524 shares of the company’s stock worth $43,000 after purchasing an additional 410 shares during the period. Ancora Advisors LLC purchased a new position in Smithfield Foods during the second quarter worth about $43,000. Finally, Persistent Asset Partners Ltd acquired a new position in Smithfield Foods in the 2nd quarter valued at about $58,000.
Smithfield Foods Company Profile
Smithfield Foods, Inc is a vertically integrated food company focused on pork production and packaged meats. Its operations include raising livestock, processing and packaging pork, and distributing fresh pork and prepared foods. The company’s products include bacon, ham, sausage, hot dogs, lunch meats, fresh pork cuts and other refrigerated and shelf-stable meat products.
Smithfield markets products under brands including Smithfield, Eckrich, Farmland, Nathan’s Famous and Healthy Ones, as well as private-label offerings for retailers and food-service customers.
Featured Articles
- Five stocks we like better than Smithfield Foods
- 3 Stocks Chopped in Half: Why These Drops May Be Structural, Not a Dip
- Home Depot and Lowe’s Hit 52-Week Lows—But Analysts Aren’t Giving Up
- Utilities Are Bouncing Back—These 2 Giants Could Signal the Next Big Sector Rally
- Q3 Earnings Could Blow Past Consensus—Be Ready for What Comes Next
Receive News & Ratings for Smithfield Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smithfield Foods and related companies with MarketBeat.com's FREE daily email newsletter.
