Smithfield Foods' (SFD) "Buy (B-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Smithfield Foods' stock maintains a strong rating, with Weiss Ratings reaffirming its "buy (B-)" designation and positive adjustments from analysts including a price target boost from Barclays and Morgan Stanley to $30.00.
• The company recently reported earnings of $0.55 per share, slightly below expectations, but its revenue of $3.79 billion surpassed analyst forecasts, marking an 11% year-over-year increase.
• Insider trading activity has been notable, with two insiders purchasing shares at an average price of $23.25, showcasing confidence in the company's future performance.

Smithfield Foods (NASDAQ:SFD - Get Free Report)'s stock had its "buy (b-)" rating reiterated by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the stock. Barclays lifted their target price on shares of Smithfield Foods from $28.00 to $30.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 13th. UBS Group reiterated a "buy" rating and issued a $28.50 target price (up previously from $25.00) on shares of Smithfield Foods in a research note on Wednesday, August 13th. Zacks Research raised shares of Smithfield Foods from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Morgan Stanley boosted their price objective on shares of Smithfield Foods from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $28.44.

Smithfield Foods Stock Down 1.1%

SFD opened at $22.07 on Wednesday. The company has a market capitalization of $8.68 billion and a price-to-earnings ratio of 9.72. The firm has a 50-day moving average price of $24.48 and a 200-day moving average price of $23.08. Smithfield Foods has a twelve month low of $18.43 and a twelve month high of $26.07.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.62 billion. Smithfield Foods's quarterly revenue was up 11.0% on a year-over-year basis.

Insider Transactions at Smithfield Foods

In related news, insider Doug Sutton purchased 3,920 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $23.25 per share, with a total value of $91,140.00. Following the acquisition, the insider directly owned 68,920 shares of the company's stock, valued at approximately $1,602,390. This represents a 6.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hank Shenghua He purchased 10,000 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was bought at an average cost of $23.25 per share, for a total transaction of $232,500.00. Following the acquisition, the director directly owned 87,000 shares in the company, valued at approximately $2,022,750. The trade was a 12.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,831,753 shares of company stock worth $42,588,257. Company insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Smithfield Foods

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Smithfield Foods in the 2nd quarter worth approximately $29,000. CWM LLC bought a new stake in shares of Smithfield Foods in the 2nd quarter worth approximately $30,000. PNC Financial Services Group Inc. bought a new stake in shares of Smithfield Foods in the 1st quarter worth approximately $27,000. Amalgamated Bank bought a new stake in shares of Smithfield Foods in the 1st quarter worth approximately $28,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Smithfield Foods in the 1st quarter worth approximately $34,000.

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.

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