Stock analysts at HSBC initiated coverage on shares of Smithfield Foods (NASDAQ:SFD – Get Free Report) in a report issued on Tuesday. The firm set a “buy” rating and a $29.00 price target on the stock. HSBC’s price objective would indicate a potential upside of 48.41% from the company’s current price.
A number of other analysts have also issued reports on the stock. Bank of America started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating and a $28.00 price objective on the stock. Morgan Stanley assumed 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 on the stock. The Goldman Sachs Group assumed coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $32.00 price target for the company. Barclays assumed coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued an “overweight” rating and a $28.00 price target for the company. Finally, Citigroup assumed coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.86.
Check Out Our Latest Stock Analysis on Smithfield Foods
Smithfield Foods Price Performance
Insiders Place Their Bets
In related news, insider Tennille J. Checkovich acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were acquired 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 directly owns 12,000 shares in the company, valued at $240,000. This trade represents a 20.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of Smithfield Foods stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $20.00, for a total transaction of $260,869,580.00. Following the sale, the insider now owns 367,025,753 shares in the company, valued at approximately $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 acquired a total of 59,000 shares of company stock valued at $1,180,000 over the last 90 days. 1.79% of the stock is owned by company insiders.
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.
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