Smithfield Foods (NASDAQ:SFD) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?
by Kim Johansen · The Markets DailySmithfield Foods, Inc. (NASDAQ:SFD – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on SFD shares. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. Wall Street Zen upgraded Smithfield Foods from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.90.
Get Our Latest Stock Analysis on Smithfield Foods
Smithfield Foods Stock Performance
The firm has a market capitalization of $9.24 billion, a PE ratio of 10.59, a P/E/G ratio of 1.25 and a beta of 0.12. The stock’s 50-day simple moving average is $23.87 and its 200-day simple moving average is $23.10.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in SFD. Strs Ohio grew its stake in Smithfield Foods by 76.5% in the third quarter. Strs Ohio now owns 1,080 shares of the company’s stock worth $25,000 after purchasing an additional 468 shares during the period. Altshuler Shaham Ltd purchased a new position in Smithfield Foods during the fourth quarter valued at $25,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Smithfield Foods by 88.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock valued at $26,000 after buying an additional 515 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Smithfield Foods during the 2nd quarter valued at $29,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of Smithfield Foods in the 4th quarter worth about $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.