Barclays Initiates Coverage on Smithfield Foods (NASDAQ:SFD)

Stock analysts at Barclays began coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued on Monday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $28.00 price target on the stock. Barclays‘s price target suggests a potential upside of 32.70% from the stock’s previous close.

SFD has been the subject of a number of other research reports. Morgan Stanley began coverage on Smithfield Foods in a research note on Monday. They issued an “overweight” rating and a $28.00 price target for the company. Bank of America started coverage on shares of Smithfield Foods in a research note on Monday. They set a “buy” rating and a $28.00 target price on the stock. The Goldman Sachs Group began coverage on shares of Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $32.00 price target for the company. Finally, Citigroup initiated coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.67.

Smithfield Foods Stock Down 0.9 %

Smithfield Foods stock opened at $21.10 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 other Smithfield Foods news, insider Tennille J. Checkovich acquired 2,000 shares of Smithfield Foods stock in a transaction that occurred on Wednesday, January 29th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the acquisition, the insider now owns 12,000 shares of the company’s stock, valued at $240,000. This represents a 20.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Shane Smith acquired 30,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of $20.00 per share, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now owns 120,000 shares of the company’s stock, valued at $2,400,000. This trade represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase 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.

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.