Equities research analysts at Morgan Stanley began coverage on shares of Smithfield Foods (NASDAQ:SFD – Get Free Report) in a report issued on Monday,Benzinga reports. The brokerage set an “overweight” rating and a $28.00 price target on the stock. Morgan Stanley’s price target suggests a potential upside of 32.70% from the stock’s previous close.
Smithfield Foods Stock Performance
NASDAQ:SFD opened at $21.10 on Monday. Smithfield Foods has a twelve month low of $19.10 and a twelve month high of $22.03.
Insiders Place Their Bets
In other news, insider Tennille J. Checkovich bought 2,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $20.00 per share, with a total value of $40,000.00. Following the completion of the purchase, the insider now directly owns 12,000 shares in the company, valued at $240,000. This represents a 20.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of Smithfield Foods stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total transaction of $50,138,720.00. Following the transaction, the insider now directly owns 364,518,817 shares in the company, valued at $7,290,376,340. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 59,000 shares of company stock valued at $1,180,000 in the last quarter. 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.
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