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

Investment analysts at BNP Paribas initiated coverage on shares of Smithfield Foods (NASDAQ:SFD) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $23.00 price target on the stock. BNP Paribas’ target price would suggest a potential upside of 9.00% from the stock’s current price.

Several other brokerages have also issued reports on SFD. Morgan Stanley started coverage on Smithfield Foods in a research note on Monday. They set an “overweight” rating and a $28.00 price target for the company. Barclays initiated coverage on Smithfield Foods in a research report on Monday. They issued an “overweight” rating and a $28.00 target price for the company. The Goldman Sachs Group started coverage on Smithfield Foods in a research note on Monday. They issued a “buy” rating and a $32.00 target price for the company. Bank of America began coverage on shares of Smithfield Foods in a research note on Monday. They set a “buy” rating and a $28.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Smithfield Foods in a report on Monday. They issued a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Smithfield Foods Trading Down 0.9 %

Smithfield Foods stock opened at $21.10 on Monday. Smithfield Foods has a fifty-two week low of $19.10 and a fifty-two week high of $22.03.

Insider Activity at Smithfield Foods

In other news, Director Hank Shenghua He purchased 17,000 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 77,000 shares of the company’s stock, valued at $1,540,000. This represents a 28.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Shane Smith purchased 30,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $600,000.00. Following the acquisition, the chief executive officer now owns 120,000 shares in the company, valued at approximately $2,400,000. The trade was a 33.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 59,000 shares of company stock worth $1,180,000 in the last ninety days. 1.79% of the stock is owned by company insiders.

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.