Brokerages Set Smithfield Foods, Inc (NASDAQ:SFD) Target Price at $27.86

Smithfield Foods, Inc (NASDAQ:SFD) has received an average rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $27.86.

Several equities analysts recently commented on SFD shares. Citigroup began coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating and a $27.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a “buy” rating and a $32.00 price objective on the stock. UBS Group assumed coverage on Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating on the stock. BNP Paribas started coverage on Smithfield Foods in a research note on Monday, February 24th. They set a “neutral” rating and a $23.00 target price for the company. Finally, HSBC assumed coverage on shares of Smithfield Foods in a research note on Tuesday, March 18th. They issued a “buy” rating and a $29.00 price objective for the company.

Insider Activity at Smithfield Foods

In related news, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $20.00, for a total value of $260,869,580.00. Following the completion of the transaction, the insider now owns 367,025,753 shares of the company’s stock, valued at approximately $7,340,515,060. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tennille J. Checkovich acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares of the company’s stock, valued at $240,000. This represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 59,000 shares of company stock valued at $1,180,000 in the last quarter. Insiders own 1.79% of the company’s stock.

Smithfield Foods Trading Down 3.1 %

SFD opened at $19.05 on Friday. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $22.03.

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.