Smithfield Foods (NASDAQ:SFD) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research report report published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $27.00 price objective on the stock.

SFD has been the topic of a number of other reports. The Goldman Sachs Group started coverage on Smithfield Foods in a report on Monday. They set a “buy” rating and a $32.00 target price on the stock. Bank of America started coverage on Smithfield Foods in a report on Monday. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, Morgan Stanley started coverage on Smithfield Foods in a report on Monday. They issued an “overweight” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Smithfield Foods Price Performance

SFD stock opened at $21.34 on Monday. Smithfield Foods has a 1-year low of $19.10 and a 1-year high of $22.03.

Insider Buying and Selling at Smithfield Foods

In related news, CEO Charles Shane Smith bought 30,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now owns 120,000 shares in the company, valued at $2,400,000. The trade was a 33.33 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tennille J. Checkovich bought 2,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were bought at an average price of $20.00 per share, with a total value of $40,000.00. Following the completion of the transaction, the insider now owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. 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 ninety days. 1.79% of the stock is currently 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.