Equities research analysts at Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation (NYSE:HRL) in a research note issued to investors on Saturday.

Other analysts have also recently issued research reports about the stock. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a research note on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 price target for the company. BMO Capital Markets dropped their price target on shares of Hormel Foods Corporation from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday. Buckingham Research dropped their price target on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $38.36.

Hormel Foods Corporation (NYSE:HRL) opened at 31.34 on Friday. The stock has a market capitalization of $16.56 billion, a PE ratio of 19.11 and a beta of 0.56. The stock has a 50 day moving average price of $33.53 and a 200-day moving average price of $34.48. Hormel Foods Corporation has a 12-month low of $30.86 and a 12-month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $0.36 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Hormel Foods Corporation will post $1.64 earnings per share for the current fiscal year.

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In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the transaction, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luis G. Marconi sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the transaction, the insider now directly owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Sentry Investment Management LLC boosted its position in shares of Hormel Foods Corporation by 1.1% in the second quarter. Sentry Investment Management LLC now owns 20,869 shares of the company’s stock valued at $712,000 after buying an additional 218 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Hormel Foods Corporation by 25.5% in the second quarter. Toronto Dominion Bank now owns 91,638 shares of the company’s stock valued at $3,126,000 after buying an additional 18,624 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Hormel Foods Corporation during the second quarter valued at approximately $463,000. Tandem Investment Advisors Inc. boosted its position in shares of Hormel Foods Corporation by 4.6% in the second quarter. Tandem Investment Advisors Inc. now owns 73,813 shares of the company’s stock valued at $2,518,000 after buying an additional 3,248 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of Hormel Foods Corporation by 22.6% in the second quarter. WINTON GROUP Ltd now owns 47,689 shares of the company’s stock valued at $1,627,000 after buying an additional 8,799 shares in the last quarter. 38.40% of the stock is owned by institutional investors.

Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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