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

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

A number of equities research analysts recently issued reports on the company. UBS Group assumed coverage on Smithfield Foods in a research report on Monday, February 24th. They set a “buy” rating on the stock. Bank of America began coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating and a $28.00 target price on the stock. The Goldman Sachs Group began coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating and a $32.00 target price on the stock. BNP Paribas began coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Hsbc Global Res raised Smithfield Foods to a “strong-buy” rating in a report on Tuesday.

Smithfield Foods Stock Down 0.7 %

Shares of NASDAQ:SFD opened at $19.65 on Friday. Smithfield Foods has a 1 year low of $18.43 and a 1 year high of $22.03.

Insider Activity at Smithfield Foods

In related news, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the firm’s stock in a transaction 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 $7,340,515,060. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tennille J. Checkovich acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the acquisition, the insider now owns 12,000 shares in the company, valued at $240,000. This represents a 20.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 59,000 shares of company stock valued at $1,180,000 in 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.