Smithfield Foods (NASDAQ:SFD) Now Covered by Barclays

Barclays initiated coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $28.00 price objective on the stock.

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

Smithfield Foods Trading Up 1.1 %

Shares of NASDAQ SFD 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 Activity at Smithfield Foods

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the completion of the sale, the insider now owns 364,518,817 shares in the company, valued at approximately $7,290,376,340. This represents a 0.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tennille J. Checkovich acquired 2,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $20.00 per share, with a total value of $40,000.00. Following the acquisition, the insider now owns 12,000 shares in the company, valued at $240,000. The trade was a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 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.