Smithfield Foods (NASDAQ:SFD) Earns Overweight Rating from Analysts at Barclays

Barclays started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $28.00 price objective on the stock.

A number of other equities research analysts have also recently 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 target price on the stock. Bank of America started coverage on shares of Smithfield Foods in a research note on Monday. They set a “buy” rating and a $28.00 target price on the stock. Citigroup initiated coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of Smithfield Foods in a research report on Monday. They set an “overweight” rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.67.

Smithfield Foods Stock Performance

Shares of SFD stock opened at $20.60 on Monday. Smithfield Foods has a 1-year low of $19.10 and a 1-year high of $22.03.

Insider Activity at Smithfield Foods

In other Smithfield Foods news, insider Tennille J. Checkovich acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the insider now owns 12,000 shares of the company’s stock, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 364,518,817 shares in the company, valued at approximately $7,290,376,340. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 59,000 shares of company stock valued at $1,180,000. 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.