Smithfield Foods, Inc (NASDAQ:SFD) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) have been assigned a consensus recommendation of "Buy" from the nine research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.86.

SFD has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They set a "buy" rating for the company. Bank of America assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a "buy" rating and a $28.00 price target on the stock. Barclays initiated coverage on Smithfield Foods in a report on Monday, February 24th. They set an "overweight" rating and a $28.00 price objective for the company. The Goldman Sachs Group began coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Morgan Stanley began coverage on Smithfield Foods in a research report on Tuesday. They set an "overweight" rating and a $28.00 price target on the stock.

Insider Buying and Selling

In other news, insider Tennille J. Checkovich bought 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company's stock, valued at approximately $240,000. The trade was a 20.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $20.00, for a total transaction of $50,138,720.00. Following the completion of the transaction, the insider now directly owns 364,518,817 shares of the company's stock, valued at approximately $7,290,376,340. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 59,000 shares of company stock valued at $1,180,000. Corporate insiders own 1.79% of the company's stock.

Smithfield Foods Stock Performance

Shares of NASDAQ SFD traded down $0.46 during midday trading on Friday, reaching $19.14. The company's stock had a trading volume of 1,103,014 shares, compared to its average volume of 858,288. Smithfield Foods has a 12-month low of $18.43 and a 12-month high of $22.03.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01).

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.