Smithfield Foods, Inc (NASDAQ:SFD) Receives Average Rating of “Moderate Buy” from Analysts

Smithfield Foods, Inc (NASDAQ:SFD) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $27.67.

A number of equities analysts have issued reports on the company. Bank of America started coverage on Smithfield Foods in a report on Monday. They issued a “buy” rating and a $28.00 target price for the company. The Goldman Sachs Group began coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $32.00 price objective for the company. BNP Paribas started coverage on shares of Smithfield Foods in a research report on Monday. They set a “neutral” rating and a $23.00 target price on the stock. Barclays began coverage on shares of Smithfield Foods in a report on Monday. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Citigroup began coverage on shares of Smithfield Foods in a research note on Monday. They set a “buy” rating and a $27.00 price target for the company.

Insider Activity

In related news, CEO Charles Shane Smith purchased 30,000 shares of Smithfield Foods stock in a transaction on Wednesday, January 29th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $600,000.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tennille J. Checkovich acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the acquisition, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 59,000 shares of company stock valued at $1,180,000 in the last ninety days. 1.79% of the stock is owned by company insiders.

Smithfield Foods Trading Up 1.9 %

Shares of NASDAQ:SFD traded up $0.40 during trading on Monday, hitting $21.50. 202,289 shares of the company were exchanged, compared to its average volume of 958,262. Smithfield Foods has a 1-year low of $19.10 and a 1-year high of $22.03.

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.