Smithfield Foods (NASDAQ:SFD) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note released on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $32.00 price objective on the stock.

Separately, Morgan Stanley began coverage on shares of Smithfield Foods in a report on Monday. They set an “overweight” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.67.

Smithfield Foods Stock Up 1.1 %

NASDAQ SFD opened at $21.34 on Monday. Smithfield Foods has a 12 month low of $19.10 and a 12 month high of $22.03.

Insider Activity

In other Smithfield Foods news, CEO Charles Shane Smith acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $20.00 per share, with a total value of $600,000.00. Following the acquisition, the chief executive officer now directly owns 120,000 shares of the company’s stock, valued at $2,400,000. This represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tennille J. Checkovich bought 2,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average price 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 in the company, valued at $240,000. This trade represents a 20.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 59,000 shares of company stock valued at $1,180,000. 1.79% of the stock is currently owned by company insiders.

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.