Analysts Set Smithfield Foods, Inc (NASDAQ:SFD) Target Price at $27.86

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

Several research firms have issued reports on SFD. BNP Paribas began coverage on Smithfield Foods in a report on Monday, February 24th. They set a “neutral” rating and a $23.00 price objective on the stock. Bank of America began coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating and a $28.00 target price on the stock. HSBC initiated coverage on Smithfield Foods in a research report on Tuesday, March 18th. They issued a “buy” rating and a $29.00 price objective for the company. Morgan Stanley started coverage on Smithfield Foods in a report on Monday, February 24th. They set an “overweight” rating and a $28.00 price objective for the company. Finally, Barclays initiated coverage on Smithfield Foods in a report on Monday, February 24th. They issued an “overweight” rating and a $28.00 price objective for the company.

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 on Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the purchase, the insider now directly owns 12,000 shares of the company’s stock, valued at $240,000. This trade represents a 20.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $20.00, for a total transaction of $260,869,580.00. Following the sale, the insider now owns 367,025,753 shares of the company’s stock, valued at approximately $7,340,515,060. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 59,000 shares of company stock worth $1,180,000 over the last three months. 1.79% of the stock is owned by company insiders.

Smithfield Foods Stock Down 3.1 %

Shares of NASDAQ SFD opened at $19.05 on Friday. Smithfield Foods has a 52-week low of $18.43 and a 52-week 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.