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Smithfield Foods Makes a Move: Up 4.8%

Published on Wed, 01/02/2013 - 11:28
By Robert Cotter

Up 4.8% to $22.60, Smithfield Foods (NYSE:SFD), is one of today's notable movers. The S&P is trading higher by 1.8% to 1,452 and the Dow is trading 1.8% higher to 13,339.

Smithfield Foods share prices have moved between a 52-week high of $24.98 and a 52-week low of $17.55 and are now trading 29% above that low price at $22.60 per share. The 200-day and 50-day moving averages have moved 0.16% lower and 0.23% higher over the past week, respectively.

Smithfield Foods (NYSE:SFD) has potential upside of 15.0% based on a current price of $22.60 and analysts' consensus price target of $26.00. The stock should find initial support at its 50-day moving average (MA) of $21.57 and further support at its 200-day MA of $20.46.

Smithfield Foods, Inc. processes pork and produces hogs through its meat processing and hog production groups. The Company also produces and markets a range of branded food products such as frozen barbecues and chilies, peanuts, and pork products. Smithfield's products are sold on a wholesale basis, through catalogs, through its retail stores, and via the Internet.

By Robert Cotter
rcotter@fnno.com

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