Smithfield Foods (NASDAQ:SFD) Hits New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Smithfield Foods Stock Up 3.5 %

Insider Buying and Selling at Smithfield Foods

In other news, insider Tennille J. Checkovich bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at $240,000. The trade was a 20.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $20.00, for a total value of $50,138,720.00. Following the sale, the insider now owns 364,518,817 shares of the company’s stock, valued at $7,290,376,340. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 59,000 shares of company stock valued at $1,180,000. 1.79% of the stock is owned by company insiders.

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.