Smithfield Foods, Inc (NASDAQ:SFD) Given Consensus Recommendation of "Buy" by Analysts

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) has been assigned an average rating of "Buy" from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $27.86.

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued an "overweight" rating and a $28.00 target price for the company. Barclays started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set an "overweight" rating and a $28.00 price objective for the company. HSBC started coverage on shares of Smithfield Foods in a report on Tuesday, March 18th. They issued a "buy" rating and a $29.00 price target on the stock. Citigroup initiated coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $27.00 price objective for the company. Finally, BNP Paribas initiated coverage on Smithfield Foods in a research report on Monday, February 24th. They set a "neutral" rating and a $23.00 target price on the stock.

Insider Buying and Selling

In related news, CFO Mark L. Hall acquired 10,000 shares of Smithfield Foods stock in a transaction on Wednesday, January 29th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $200,000.00. Following the purchase, the chief financial officer now owns 70,000 shares of the company's stock, valued at approximately $1,400,000. This represents a 16.67 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the business's 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 transaction, the insider now directly owns 364,518,817 shares of the company's stock, valued at approximately $7,290,376,340. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders bought 59,000 shares of company stock valued at $1,180,000 over the last quarter. 1.79% of the stock is currently owned by company insiders.

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Smithfield Foods Price Performance

Shares of SFD traded up $0.55 during trading hours on Friday, hitting $19.60. The company had a trading volume of 969,461 shares, compared to its average volume of 851,794. Smithfield Foods has a one year low of $18.43 and a one year high of $22.03.

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.