Smithfield Foods (NASDAQ:SFD) Coverage Initiated at UBS Group

Equities research analysts at UBS Group assumed coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued on Monday, Marketbeat reports. The firm set a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Bank of America initiated coverage on shares of Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $28.00 target price for the company. Citigroup started coverage on Smithfield Foods in a research report on Monday. They issued a “buy” rating and a $27.00 price objective for the company. BNP Paribas initiated coverage on Smithfield Foods in a research report on Monday. They set a “neutral” rating and a $23.00 target price on the stock. The Goldman Sachs Group began coverage on Smithfield Foods in a report on Monday. They issued a “buy” rating and a $32.00 price target for the company. Finally, Barclays initiated coverage on Smithfield Foods in a research note on Monday. They set an “overweight” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.67.

Smithfield Foods Stock Up 1.2 %

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

Insider Activity

In related news, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $20.00, for a total transaction of $260,869,580.00. Following the completion of the transaction, the insider now directly owns 367,025,753 shares in the company, valued at $7,340,515,060. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Shane Smith purchased 30,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 120,000 shares in the company, valued at $2,400,000. This trade represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 59,000 shares of company stock valued at $1,180,000. Company insiders own 1.79% of the company’s stock.

Smithfield Foods Company Profile

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.