Smithfield Foods (NASDAQ:SFD) Earns Buy Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $28.00 target price on the stock.

A number of other equities research analysts also recently weighed in on SFD. 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 target on the stock. Morgan Stanley assumed coverage on shares of Smithfield Foods in a research report on Monday. They set an “overweight” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

Smithfield Foods Trading Down 4.6 %

Shares of NASDAQ:SFD opened at $20.60 on Monday. Smithfield Foods has a 52-week low of $19.10 and a 52-week high of $22.03.

Insider Buying and Selling at Smithfield Foods

In other Smithfield Foods news, CEO Charles Shane Smith bought 30,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was acquired at an average cost of $20.00 per share, with a total value of $600,000.00. Following the purchase, the chief executive officer now owns 120,000 shares in the company, valued at $2,400,000. This trade represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hank Shenghua He purchased 17,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $340,000.00. Following the purchase, the director now owns 77,000 shares of the company’s stock, valued at approximately $1,540,000. This represents a 28.33 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 59,000 shares of company stock valued at $1,180,000. 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.