Hormel Foods Corporation (NYSE:HRL) had its price target trimmed by Buckingham Research from $37.00 to $33.00 in a report issued on Friday. The firm currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on the stock. Credit Suisse Group downgraded shares of Hormel Foods Corporation from an outperform rating to a neutral rating and reduced their price objective for the stock from $39.00 to $33.00 in a research note on Friday. Zacks Investment Research downgraded shares of Hormel Foods Corporation from a hold rating to a sell rating in a research note on Monday, August 21st. BidaskClub upgraded shares of Hormel Foods Corporation from a sell rating to a hold rating in a research note on Monday, August 14th. Jefferies Group LLC reiterated a hold rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 30th. Finally, Stephens reiterated an overweight rating and issued a $50.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $38.36.

Shares of Hormel Foods Corporation (NYSE:HRL) traded down 2.34% during midday trading on Friday, reaching $31.34. The company’s stock had a trading volume of 5,070,517 shares. Hormel Foods Corporation has a 52 week low of $30.86 and a 52 week high of $38.84. The stock has a market capitalization of $16.55 billion, a PE ratio of 19.35 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 (NYSE:HRL) last posted 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. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts forecast that Hormel Foods Corporation will post $1.64 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new position in Hormel Foods Corporation during the second quarter valued at $111,000. BB&T Investment Services Inc. bought a new position in Hormel Foods Corporation during the second quarter valued at $118,000. Canada Pension Plan Investment Board boosted its position in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares in the last quarter. 38.40% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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