Smithfield Foods (NASDAQ:SFD) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of Smithfield Foods (NASDAQ:SFD - Free Report) in a report published on Monday, MarketBeat reports. The firm issued an overweight rating and a $28.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley started coverage on Smithfield Foods in a research report on Monday. They issued an "overweight" rating and a $28.00 price target on the stock. Bank of America started coverage on Smithfield Foods in a report on Monday. They issued a "buy" rating and a $28.00 target price on the stock. Citigroup assumed coverage on shares of Smithfield Foods in a research report on Monday. They issued a "buy" rating and a $27.00 price objective on the stock. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Smithfield Foods has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

Smithfield Foods Price Performance

Smithfield Foods stock traded up $0.41 during midday trading on Monday, hitting $21.01. 577,858 shares of the company's stock were exchanged, compared to its average volume of 969,317. Smithfield Foods has a 12-month low of $19.10 and a 12-month high of $22.03.

Insiders Place Their Bets

In other news, insider Tennille J. Checkovich purchased 2,000 shares of the company's stock in a transaction dated 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 directly owns 12,000 shares in the company, valued at $240,000. This represents a 20.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of Smithfield Foods stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $20.00, for a total transaction of $260,869,580.00. Following the transaction, the insider now owns 367,025,753 shares of the company's stock, valued at approximately $7,340,515,060. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 59,000 shares of company stock worth $1,180,000. 1.79% of the stock is owned by corporate 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.