BNP Paribas Initiates Coverage on Smithfield Foods (NASDAQ:SFD)

BNP Paribas began coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $23.00 price target on the stock. BNP Paribas’ price target would indicate a potential upside of 6.48% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Citigroup started coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group started coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $32.00 price target on the stock. Morgan Stanley began coverage on Smithfield Foods in a research note on Monday. They issued an “overweight” rating and a $28.00 price target on the stock. Barclays began coverage on Smithfield Foods in a research report on Monday. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Bank of America began coverage on Smithfield Foods in a research report on Monday. They set a “buy” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Smithfield Foods Stock Up 1.2 %

Smithfield Foods stock opened at $21.60 on Monday. Smithfield Foods has a 1-year low of $19.10 and a 1-year high of $22.03.

Insider Transactions at Smithfield Foods

In related news, CFO Mark L. Hall purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $200,000.00. Following the transaction, the chief financial officer now directly owns 70,000 shares of the company’s stock, valued at approximately $1,400,000. The trade was a 16.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the completion of the transaction, the insider now owns 364,518,817 shares in the company, valued at $7,290,376,340. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 59,000 shares of company stock worth $1,180,000. Corporate insiders own 1.79% of the company’s stock.

About Smithfield Foods

Smithfield Foods, Inc produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. The Company operates in four segments: Pork, Hog Production, International and Corporate, each of which consists of a number of subsidiaries, joint ventures and other investments.