Smithfield Foods (NASDAQ:SFD) Hits New 52-Week Low - Should You Sell?

Smithfield Foods, Inc (NASDAQ:SFD - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $19.01 and last traded at $19.09, with a volume of 35384 shares. The stock had previously closed at $19.30.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SFD. UBS Group began coverage on Smithfield Foods in a research report on Monday, February 24th. They set a "buy" rating for the company. Barclays started coverage on Smithfield Foods in a research report on Monday, February 24th. They set an "overweight" rating and a $28.00 price objective for the company. Citigroup started coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $27.00 target price for the company. Bank of America started coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $28.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Smithfield Foods in a research report on Monday, February 24th. They issued a "buy" rating and a $32.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $27.67.

Smithfield Foods Trading Up 0.2 %

Insider Activity

In other news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total transaction of $50,138,720.00. Following the completion of the sale, the insider now owns 364,518,817 shares in the company, valued at approximately $7,290,376,340. This represents a 0.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tennille J. Checkovich bought 2,000 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the purchase, the insider now owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their ownership of the stock. 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. Insiders own 1.79% of the company's stock.

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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.