Smithfield Foods, Inc (NASDAQ:SFD) Given Consensus Rating of “Buy” by Brokerages

Smithfield Foods, Inc (NASDAQ:SFD) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $27.86.

SFD has been the topic of several analyst reports. Citigroup initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating and a $27.00 target price on the stock. Barclays initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set an “overweight” rating and a $28.00 target price on the stock. Morgan Stanley initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set an “overweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating and a $32.00 target price on the stock. Finally, Bank of America assumed coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $28.00 price objective on the stock.

Smithfield Foods Stock Performance

SFD opened at $19.65 on Friday. Smithfield Foods has a 52-week low of $18.43 and a 52-week high of $22.03.

Insider Buying and Selling at Smithfield Foods

In other news, insider Tennille J. Checkovich bought 2,000 shares of the 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 completion of the purchase, the insider now owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the insider now owns 367,025,753 shares in the company, valued at approximately $7,340,515,060. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 59,000 shares of company stock worth $1,180,000 over the last 90 days. 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.