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

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $27.67.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Smithfield Foods in a report on Monday. They issued a "buy" rating and a $32.00 target price for the company. BNP Paribas started coverage on shares of Smithfield Foods in a research report on Monday. They set a "neutral" rating and a $23.00 target price on the stock. Morgan Stanley initiated coverage on shares of Smithfield Foods in a report on Monday. They issued an "overweight" rating and a $28.00 price target for the company. Barclays assumed coverage on shares of Smithfield Foods in a report on Monday. They set an "overweight" rating and a $28.00 price objective on the stock. Finally, Citigroup initiated coverage on Smithfield Foods in a research note on Monday. They issued a "buy" rating and a $27.00 target price for the company.

Insider Buying and Selling at Smithfield Foods

In related news, CEO Charles Shane Smith bought 30,000 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average price of $20.00 per share, with a total value of $600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 120,000 shares in the company, valued at approximately $2,400,000. This represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the stock in a transaction 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 sale, the insider now directly owns 367,025,753 shares of the company's stock, valued at $7,340,515,060. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 59,000 shares of company stock valued at $1,180,000. Corporate insiders own 1.79% of the company's stock.

Smithfield Foods Price Performance

Shares of SFD stock traded up $0.41 during mid-day trading on Monday, hitting $21.01. The company's stock had a trading volume of 577,858 shares, compared to its average volume of 969,317. Smithfield Foods has a 52 week low of $19.10 and a 52 week 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.