Smithfield Foods (NASDAQ:SFD) Sets New 1-Year Low – Here’s What Happened

by · The Cerbat Gem

Smithfield Foods, Inc. (NASDAQ:SFDGet Free Report)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $20.04 and last traded at $20.0440, with a volume of 298322 shares traded. The stock had previously closed at $20.31.

Wall Street Analysts Forecast Growth

SFD has been the subject of a number of research analyst reports. Barclays decreased their price target on shares of Smithfield Foods from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Bank of America cut their target price on Smithfield Foods from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Zacks Research lowered Smithfield Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Smithfield Foods from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price objective on shares of Smithfield Foods in a report on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Smithfield Foods currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Read Our Latest Analysis on SFD

Smithfield Foods Price Performance

The firm has a market capitalization of $7.88 billion, a PE ratio of 7.46 and a beta of -0.51. The firm’s fifty day moving average price is $23.84 and its 200 day moving average price is $25.25. The company has a current ratio of 2.56, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20.

Smithfield Foods (NASDAQ:SFDGet Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $3.70 billion during the quarter. Smithfield Foods had a net margin of 6.84% and a return on equity of 15.55%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. As a group, equities analysts forecast that Smithfield Foods, Inc. will post 2.12 earnings per share for the current year.

Smithfield Foods Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Thursday, August 13th. Smithfield Foods’s dividend payout ratio (DPR) is currently 46.64%.

Hedge Funds Weigh In On Smithfield Foods

Several institutional investors and hedge funds have recently modified their holdings of SFD. Core Capital Management & Research inc. acquired a new stake in Smithfield Foods during the second quarter worth about $6,656,000. Engineers Gate Manager LP lifted its holdings in Smithfield Foods by 2,584.3% in the second quarter. Engineers Gate Manager LP now owns 351,055 shares of the company’s stock valued at $8,517,000 after acquiring an additional 337,977 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Smithfield Foods in the second quarter valued at approximately $157,000. IFP Advisors Inc boosted its position in Smithfield Foods by 136.4% in the 2nd quarter. IFP Advisors Inc now owns 3,815 shares of the company’s stock worth $93,000 after purchasing an additional 2,201 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Smithfield Foods by 144.9% in the 2nd quarter. Squarepoint Ops LLC now owns 112,413 shares of the company’s stock worth $2,727,000 after purchasing an additional 66,519 shares in the last quarter.

Smithfield Foods Company Profile

(Get Free Report)

Smithfield Foods, Inc is a food company focused on pork production and processing. Its operations include raising hogs, processing fresh pork, and producing packaged meats and prepared foods for retail, foodservice and other customers.

The company markets products under brands including Smithfield, Eckrich, Farmland, Gwaltney, John Morrell and Healthy Ones. Its offerings include fresh pork cuts, bacon, ham, sausage, lunch meats, hot dogs and other prepared pork products.

Founded in 1936 and headquartered in Smithfield, Virginia, Smithfield serves customers in the United States and international markets through its production, processing and distribution network.

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