Smithfield Foods (NASDAQ:SFD) Now Covered by Analysts at BNP Paribas

BNP Paribas started coverage on shares of Smithfield Foods (NASDAQ:SFD - Free Report) in a report published on Monday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $23.00 target price on the stock.

Several other analysts have also commented on SFD. The Goldman Sachs Group began coverage on Smithfield Foods in a research note on Monday. They issued a "buy" rating and a $32.00 price target 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 target price on the stock. Barclays assumed coverage on shares of Smithfield Foods in a research report on Monday. They set an "overweight" rating and a $28.00 target price for the company. Bank of America assumed coverage on shares of Smithfield Foods in a research report on Monday. They issued a "buy" rating and a $28.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Smithfield Foods in a report on Monday. They set a "buy" rating and a $27.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.67.

Smithfield Foods Trading Up 2.0 %

Shares of SFD stock traded up $0.41 during trading hours on Monday, hitting $21.01. The company had a trading volume of 577,858 shares, 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.

Insider Buying and Selling at Smithfield Foods

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the company's stock in a transaction on 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. This represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Shane Smith bought 30,000 shares of the stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, with a total value of $600,000.00. Following the completion of the purchase, the chief executive officer now directly owns 120,000 shares in the company, valued at approximately $2,400,000. This trade represents a 33.33 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 59,000 shares of company stock worth $1,180,000. 1.79% of the stock is currently 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.