Bank of America Begins Coverage on Smithfield Foods (NASDAQ:SFD)

Investment analysts at Bank of America started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $28.00 price target on the stock. Bank of America‘s price target points to a potential upside of 32.70% from the company’s current price.

Several other equities research analysts have also commented on the company. Morgan Stanley assumed coverage on Smithfield Foods in a research note on Monday. They set an “overweight” rating and a $28.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Smithfield Foods in a research report on Monday. They set a “buy” rating and a $32.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $28.60.

Smithfield Foods Price Performance

SFD stock opened at $21.10 on Monday. Smithfield Foods has a 52 week low of $19.10 and a 52 week high of $22.03.

Insider Buying and Selling at Smithfield Foods

In other Smithfield Foods news, CEO Charles Shane Smith purchased 30,000 shares of Smithfield Foods stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, with a total value 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 approximately $2,400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tennille J. Checkovich acquired 2,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the insider now directly owns 12,000 shares in the company, valued at $240,000. The trade was a 20.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 59,000 shares of company stock valued at $1,180,000 over the last 90 days. 1.79% of the stock is owned by corporate insiders.

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.