Smithfield Foods (NASDAQ:SFD) Hits New 52-Week Low – Time to Sell?

Smithfield Foods, Inc (NASDAQ:SFD)’s share price reached a new 52-week low on Monday . The stock traded as low as $19.01 and last traded at $19.09, with a volume of 35384 shares trading hands. The stock had previously closed at $19.30.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of Smithfield Foods in a report on Monday, February 24th. They set an “overweight” rating and a $28.00 price target for the company. Barclays initiated coverage on Smithfield Foods in a research note on Monday, February 24th. They set an “overweight” rating and a $28.00 price target on the stock. UBS Group initiated coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating on the stock. The Goldman Sachs Group began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, BNP Paribas initiated coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a “neutral” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.67.

Smithfield Foods Stock Performance

Insider Transactions at Smithfield Foods

In related news, CFO Mark L. Hall purchased 10,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average cost of $20.00 per share, with a total value of $200,000.00. Following the purchase, the chief financial officer now directly owns 70,000 shares in the company, valued at $1,400,000. This trade represents a 16.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 price of $20.00 per share, with a total value of $40,000.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 59,000 shares of company stock worth $1,180,000. 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.