Analysts Set Smithfield Foods, Inc (NASDAQ:SFD) Price Target at $27.67

Smithfield Foods, Inc (NASDAQ:SFD) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $27.67.

A number of equities analysts recently commented on SFD shares. The Goldman Sachs Group started coverage on shares of Smithfield Foods in a research report on Monday. They set a “buy” rating and a $32.00 price target on the stock. UBS Group began coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating on the stock. Barclays began coverage on shares of Smithfield Foods in a report on Monday. They issued an “overweight” rating and a $28.00 target price on the stock. Citigroup began coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Bank of America began coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating and a $28.00 target price on the stock.

Smithfield Foods Price Performance

Smithfield Foods stock opened at $20.60 on Monday. Smithfield Foods has a 1-year low of $19.10 and a 1-year high of $22.03.

Insider Transactions at Smithfield Foods

In related news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the stock in a transaction that occurred on 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 directly owns 364,518,817 shares of the company’s stock, 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 SEC, which can be accessed through this link. Also, CEO Charles Shane Smith purchased 30,000 shares of the company’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 $600,000.00. Following the completion of the purchase, the chief executive officer now directly owns 120,000 shares in the company, valued at $2,400,000. This trade represents a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 59,000 shares of company stock valued at $1,180,000 in the last quarter. 1.79% of the stock is owned by 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.