Smithfield Foods (NASDAQ:SFD) Earns Neutral Rating from Analysts at BNP Paribas

BNP Paribas started coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research note released on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $23.00 price target on the stock.

Several other equities research analysts have also recently weighed in on SFD. Bank of America assumed coverage on Smithfield Foods in a research report on Monday. They issued a “buy” rating and a $28.00 price objective for the company. Barclays began coverage on shares of Smithfield Foods in a report on Monday. They issued an “overweight” rating and a $28.00 price target for the company. Morgan Stanley assumed coverage on shares of Smithfield Foods in a report on Monday. They set an “overweight” rating and a $28.00 price objective on the stock. Citigroup assumed coverage on shares of Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $27.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on Smithfield Foods in a research note on Monday. They set a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.67.

Smithfield Foods Stock Performance

NASDAQ SFD opened at $20.60 on Monday. Smithfield Foods has a twelve month low of $19.10 and a twelve month high of $22.03.

Insider Activity at Smithfield Foods

In related news, CEO Charles Shane Smith purchased 30,000 shares of Smithfield Foods 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 transaction, the chief executive officer now directly owns 120,000 shares in the company, valued at approximately $2,400,000. This represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tennille J. Checkovich acquired 2,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was bought at an average price of $20.00 per share, with a total value of $40,000.00. Following the transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $240,000. This represents a 20.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 59,000 shares of company stock valued at $1,180,000 in the last ninety days. Insiders own 1.79% of the company’s stock.

About Smithfield Foods

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.