Smithfield Foods (NASDAQ:SFD) Posts Earnings Results, Misses Expectations By $0.01 EPS

Smithfield Foods (NASDAQ:SFD) issued its earnings results on Tuesday. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01), Zacks reports.

Smithfield Foods Stock Down 2.3 %

Shares of NASDAQ SFD opened at $19.14 on Wednesday. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $22.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Smithfield Foods in a report on Monday, February 24th. They issued a “buy” rating on the stock. Bank of America started coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating and a $28.00 price target on the stock. BNP Paribas began coverage on Smithfield Foods in a research report on Monday, February 24th. They set a “neutral” rating and a $23.00 price objective for the company. Citigroup started coverage on Smithfield Foods in a research report on Monday, February 24th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Hsbc Global Res upgraded Smithfield Foods to a “strong-buy” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Smithfield Foods presently has an average rating of “Buy” and an average price target of $27.86.

Insider Activity

In other Smithfield Foods news, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $20.00, for a total value of $50,138,720.00. Following the transaction, the insider now directly owns 364,518,817 shares of the company’s stock, valued at approximately $7,290,376,340. The trade was a 0.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tennille J. Checkovich bought 2,000 shares of Smithfield Foods stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average price of $20.00 per share, with a total value of $40,000.00. Following the purchase, the insider now directly owns 12,000 shares in the company, valued at approximately $240,000. This trade represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 59,000 shares of company stock valued at $1,180,000 in the last ninety days. 1.79% of the stock is currently 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.