Smithfield Foods (NASDAQ:SFD) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $28.00 price objective on the stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley assumed coverage on Smithfield Foods in a research note on Monday. They issued an “overweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group started coverage on Smithfield Foods in a research report on Monday. They set a “buy” rating and a $32.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Smithfield Foods presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Smithfield Foods Trading Up 1.1 %

Smithfield Foods stock opened at $21.34 on Monday. Smithfield Foods has a fifty-two week low of $19.10 and a fifty-two week high of $22.03.

Insider Buying and Selling at Smithfield Foods

In other news, insider Tennille J. Checkovich bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $20.00 per share, with a total value of $40,000.00. Following the completion of the purchase, the insider now directly owns 12,000 shares in the company, valued at $240,000. This represents a 20.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Shane Smith purchased 30,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 directly owns 120,000 shares in the company, valued at $2,400,000. The trade was a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 59,000 shares of company stock worth $1,180,000 over the last three months. Company insiders own 1.79% of the company’s stock.

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.