Smithfield Foods (NASDAQ:SFD) Now Covered by HSBC

Equities research analysts at HSBC assumed coverage on shares of Smithfield Foods (NASDAQ:SFD) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $29.00 price target on the stock. HSBC’s price target suggests a potential upside of 48.41% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley started coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They issued an “overweight” rating and a $28.00 price objective on the stock. UBS Group began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating on the stock. The Goldman Sachs Group began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating and a $32.00 price target on the stock. Citigroup began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Barclays began coverage on shares of Smithfield Foods in a research note on Monday, February 24th. They set an “overweight” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.86.

Smithfield Foods Stock Up 2.7 %

Shares of NASDAQ SFD opened at $19.54 on Tuesday. Smithfield Foods has a 52 week low of $18.43 and a 52 week high of $22.03.

Insider Buying and Selling

In other Smithfield Foods news, CEO Charles Shane Smith purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $600,000.00. Following the completion of the acquisition, the chief executive officer now owns 120,000 shares of the company’s stock, valued at approximately $2,400,000. This represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the insider now owns 364,518,817 shares in the company, valued at $7,290,376,340. The trade was a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 59,000 shares of company stock valued at $1,180,000. 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.