ING Groep NV Has $7.74 Million Holdings in Smithfield Foods, Inc. $SFD

ING Groep NV increased its holdings in shares of Smithfield Foods, Inc. (NASDAQ:SFD) by 54.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,500 shares of the company’s stock after acquiring an additional 115,700 shares during the period. ING Groep NV owned about 0.08% of Smithfield Foods worth $7,737,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Prudential Financial Inc. grew its holdings in shares of Smithfield Foods by 1,029.5% during the second quarter. Prudential Financial Inc. now owns 172,420 shares of the company’s stock worth $4,057,000 after purchasing an additional 157,155 shares during the last quarter. Magnetar Financial LLC acquired a new position in Smithfield Foods during the 2nd quarter worth about $419,000. Fourth Sail Capital LP bought a new stake in Smithfield Foods during the 2nd quarter worth about $18,424,000. DAVENPORT & Co LLC increased its position in Smithfield Foods by 18.8% in the 3rd quarter. DAVENPORT & Co LLC now owns 345,468 shares of the company’s stock valued at $8,102,000 after acquiring an additional 54,734 shares in the last quarter. Finally, Walnut Level Capital LLC increased its position in Smithfield Foods by 129.6% in the 2nd quarter. Walnut Level Capital LLC now owns 114,800 shares of the company’s stock valued at $2,701,000 after acquiring an additional 64,800 shares in the last quarter.

Smithfield Foods Price Performance

Shares of NASDAQ SFD opened at $24.59 on Friday. The company’s 50 day simple moving average is $23.00 and its 200 day simple moving average is $23.17. Smithfield Foods, Inc. has a fifty-two week low of $18.43 and a fifty-two week high of $26.07. The firm has a market capitalization of $9.67 billion and a P/E ratio of 11.08.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley set a $29.00 target price on shares of Smithfield Foods and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen cut shares of Smithfield Foods from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Smithfield Foods in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.31.

Smithfield Foods Company Profile

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.