Smithfield Foods (NASDAQ:SFD) Hits New 12-Month Low – What’s Next?

Shares of Smithfield Foods, Inc (NASDAQ:SFD) hit a new 52-week low during trading on Monday . The company traded as low as $19.01 and last traded at $19.09, with a volume of 35384 shares traded. The stock had previously closed at $19.30.

Wall Street Analyst Weigh In

Several brokerages recently commented on SFD. Morgan Stanley started coverage on Smithfield Foods in a research report on Monday, February 24th. They issued an “overweight” rating and a $28.00 target price for the company. Bank of America initiated coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They set a “buy” rating and a $28.00 target price on the stock. BNP Paribas initiated coverage on shares of Smithfield Foods in a research report on Monday, February 24th. They issued a “neutral” rating and a $23.00 price target for the company. The Goldman Sachs Group assumed coverage on Smithfield Foods in a report on Monday, February 24th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, UBS Group initiated coverage on Smithfield Foods in a research note on Monday, February 24th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Smithfield Foods presently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Smithfield Foods Stock Down 1.9 %

Insider Activity at Smithfield Foods

In related news, insider Tennille J. Checkovich acquired 2,000 shares of the stock in a transaction 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 transaction, the insider now owns 12,000 shares of the company’s stock, valued at $240,000. The trade was a 20.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Group Ltd/Adr Wh sold 13,043,479 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $20.00, for a total transaction of $260,869,580.00. Following the transaction, the insider now owns 367,025,753 shares in the company, valued at $7,340,515,060. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 59,000 shares of company stock valued at $1,180,000 in the last three months. 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.