Smithfield Foods (NASDAQ:SFD) Earns Overweight Rating from Analysts at Barclays

Stock analysts at Barclays started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $28.00 price target on the stock. Barclays‘s price objective suggests a potential upside of 32.70% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating and a $28.00 target price for the company. The Goldman Sachs Group began coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $32.00 price objective for the company. Morgan Stanley initiated coverage on Smithfield Foods in a research note on Monday. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Citigroup started coverage on Smithfield Foods in a report on Monday. They issued a “buy” rating and a $27.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Smithfield Foods Stock Down 0.9 %

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

Insider Activity at Smithfield Foods

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $20.00, for a total value of $260,869,580.00. Following the completion of the sale, the insider now directly owns 367,025,753 shares of the company’s stock, valued at $7,340,515,060. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tennille J. Checkovich bought 2,000 shares of Smithfield Foods stock in a transaction dated Wednesday, January 29th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the insider now owns 12,000 shares of the company’s stock, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 59,000 shares of company stock valued at $1,180,000. 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.