Cinctive Capital Management LP Buys 171,559 Shares of Smithfield Foods, Inc. $SFD

Cinctive Capital Management LP grew its stake in Smithfield Foods, Inc. (NASDAQ:SFD) by 116.4% during the third quarter, Holdings Channel.com reports. The fund owned 318,975 shares of the company’s stock after purchasing an additional 171,559 shares during the quarter. Cinctive Capital Management LP’s holdings in Smithfield Foods were worth $7,490,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Strs Ohio boosted its holdings in shares of Smithfield Foods by 76.5% in the third 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. Harbor Capital Advisors Inc. increased its holdings in Smithfield Foods by 88.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,099 shares of the company’s stock worth $26,000 after purchasing an additional 515 shares during the period. Raymond James Financial Inc. purchased a new position in Smithfield Foods during the 2nd quarter worth $29,000. Parallel Advisors LLC bought a new stake in Smithfield Foods during the 3rd quarter valued at $37,000. Finally, Legal & General Group Plc raised its position in Smithfield Foods by 82.2% during the 3rd quarter. Legal & General Group Plc now owns 4,024 shares of the company’s stock valued at $94,000 after purchasing an additional 1,816 shares in the last quarter.

Smithfield Foods Trading Up 0.2%

Shares of Smithfield Foods stock opened at $23.42 on Friday. The firm’s 50 day simple moving average is $23.92 and its two-hundred day simple moving average is $23.06. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.23 and a beta of 0.12. Smithfield Foods, Inc. has a 12-month low of $18.55 and a 12-month high of $26.07.

Wall Street Analyst Weigh In

SFD has been the topic of a number of recent research reports. Wall Street Zen raised Smithfield Foods from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Weiss Ratings restated a “hold (c)” rating on shares of Smithfield Foods in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

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.