Smithfield Foods (NASDAQ:SFD) Now Covered by UBS Group

UBS Group began coverage on shares of Smithfield Foods (NASDAQ:SFD) in a report released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating on the stock.

SFD has been the topic of several other research reports. Barclays assumed coverage on shares of Smithfield Foods in a research note on Monday. They issued an “overweight” rating and a $28.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Smithfield Foods in a research note on Monday. They set a “buy” rating and a $32.00 price objective on the stock. Citigroup started 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. BNP Paribas began coverage on Smithfield Foods in a report on Monday. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Bank of America began coverage on Smithfield Foods in a report on Monday. They set a “buy” rating and a $28.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Smithfield Foods currently has a consensus rating of “Moderate Buy” and an average target price of $27.67.

Smithfield Foods Trading Down 4.6 %

Shares of SFD stock opened at $20.60 on Monday. Smithfield Foods has a one year low of $19.10 and a one year high of $22.03.

Insider Activity at Smithfield Foods

In other news, CEO Charles Shane Smith purchased 30,000 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, for a total transaction of $600,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,000 shares in the company, valued at approximately $2,400,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $20.00, for a total value of $260,869,580.00. Following the sale, the insider now directly owns 367,025,753 shares of the company’s stock, valued at $7,340,515,060. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 59,000 shares of company stock valued at $1,180,000 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

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.