Brokerages Set Smithfield Foods, Inc (NASDAQ:SFD) PT at $27.67

Smithfield Foods, Inc (NASDAQ:SFD) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $27.67.

SFD has been the subject of a number of research reports. Bank of America initiated coverage on Smithfield Foods in a report on Monday. They set a “buy” rating and a $28.00 target price for the company. UBS Group initiated coverage on Smithfield Foods in a report on Monday. They set a “buy” rating for the company. Citigroup initiated coverage on Smithfield Foods in a research report on Monday. They set a “buy” rating and a $27.00 price target for the company. The Goldman Sachs Group initiated coverage on Smithfield Foods in a research report on Monday. They set a “buy” rating and a $32.00 price target for the company. Finally, Barclays initiated coverage on Smithfield Foods in a research report on Monday. They set an “overweight” rating and a $28.00 price target for the company.

Smithfield Foods Stock Performance

Shares of NASDAQ SFD opened at $20.60 on Monday. Smithfield Foods has a fifty-two week low of $19.10 and a fifty-two week high of $22.03.

Insider Activity at Smithfield Foods

In other news, CEO Charles Shane Smith bought 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, with a total value of $600,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $20.00, for a total value of $260,869,580.00. Following the sale, the insider now directly owns 367,025,753 shares of the company’s stock, valued at $7,340,515,060. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 59,000 shares of company stock worth $1,180,000. 1.79% of the stock is currently owned by company insiders.

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.