Smithfield Foods (NASDAQ:SFD) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Smithfield Foods (NASDAQ:SFD) in a research report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $32.00 price target on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 51.66% from the company’s current price.

Separately, Morgan Stanley began coverage on shares of Smithfield Foods in a research note on Monday. They issued an “overweight” rating and a $28.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $28.60.

Smithfield Foods Stock Performance

NASDAQ:SFD opened at $21.10 on Monday. Smithfield Foods has a twelve month low of $19.10 and a twelve month high of $22.03.

Insider Buying and Selling at Smithfield Foods

In other Smithfield Foods news, Director Hank Shenghua He bought 17,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were acquired at an average price of $20.00 per share, with a total value of $340,000.00. Following the transaction, the director now owns 77,000 shares of the company’s stock, valued at approximately $1,540,000. This trade represents a 28.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the insider now directly owns 367,025,753 shares of the company’s stock, valued at $7,340,515,060. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 59,000 shares of company stock valued at $1,180,000 in the last ninety days. Corporate 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.