Hormel Foods Corporation (NYSE:HRL) had its target price decreased by analysts at Stephens from $50.00 to $38.00 in a report released on Thursday. The firm presently has an “overweight” rating on the stock. Stephens’ price objective points to a potential upside of 24.10% from the stock’s current price.
A number of other research analysts have also commented on the company. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research report on Saturday, August 26th. They issued an “outperform” rating on the stock. BidaskClub lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC decreased their price objective on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.50.
Hormel Foods Corporation (HRL) traded down 2.30% during mid-day trading on Thursday, hitting $30.62. The stock had a trading volume of 4,172,739 shares. Hormel Foods Corporation has a 1-year low of $30.43 and a 1-year high of $38.84. The stock has a 50 day moving average of $31.45 and a 200-day moving average of $33.37. The firm has a market cap of $16.16 billion, a P/E ratio of 18.90 and a beta of 0.58.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts predict that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
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In other news, Director John L. Morrison sold 24,814 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $31.81, for a total value of $789,333.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $31.66, for a total value of $3,166,000.00. Following the completion of the transaction, the insider now directly owns 887 shares in the company, valued at approximately $28,082.42. The disclosure for this sale can be found here. In the last three months, insiders sold 194,518 shares of company stock worth $6,132,366. 3.54% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of HRL. MML Investors Services LLC raised its stake in Hormel Foods Corporation by 101.8% during the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock worth $865,000 after buying an additional 12,800 shares during the period. CLS Investments LLC raised its stake in Hormel Foods Corporation by 4.7% during the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock worth $1,314,000 after buying an additional 1,723 shares during the period. Financial Counselors Inc. acquired a new stake in Hormel Foods Corporation during the 2nd quarter worth $4,290,000. Nomura Holdings Inc. raised its stake in Hormel Foods Corporation by 42.3% during the 2nd quarter. Nomura Holdings Inc. now owns 115,356 shares of the company’s stock worth $3,934,000 after buying an additional 34,289 shares during the period. Finally, Jacobi Capital Management LLC raised its stake in Hormel Foods Corporation by 24.1% during the 1st quarter. Jacobi Capital Management LLC now owns 10,300 shares of the company’s stock worth $355,000 after buying an additional 2,000 shares during the period. 38.92% of the stock is currently owned by institutional investors.
Hormel Foods Corporation Company Profile
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