Smithfield Foods (NASDAQ:SFD) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Smithfield Foods (NASDAQ:SFD) in a report published on Monday, Marketbeat reports. The brokerage issued an overweight rating and a $28.00 price objective on the stock.

Smithfield Foods Trading Down 4.6 %

Shares of NASDAQ SFD opened at $20.60 on Monday. Smithfield Foods has a fifty-two week low of $19.10 and a fifty-two week high of $22.03.

Insider Transactions at Smithfield Foods

In other news, insider Tennille J. Checkovich purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average cost of $20.00 per share, with a total value of $40,000.00. Following the completion of the purchase, the insider now owns 12,000 shares of the company’s stock, valued at $240,000. This trade represents a 20.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Group Ltd/Adr Wh sold 2,506,936 shares of the company’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 value of $50,138,720.00. Following the completion of the transaction, the insider now directly owns 364,518,817 shares of the company’s stock, valued at $7,290,376,340. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 59,000 shares of company stock valued at $1,180,000. 1.79% of the stock is currently owned by 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.