Hormel Foods Corporation (NYSE:HRL) had its price target cut by stock analysts at Barclays PLC from $38.00 to $35.00 in a note issued to investors on Friday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s price objective points to a potential upside of 11.68% from the stock’s previous close.

Several other analysts also recently commented on HRL. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Credit Suisse Group cut their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 26th. Mizuho initiated coverage on Hormel Foods Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $38.36.

Shares of Hormel Foods Corporation (HRL) opened at 31.34 on Friday. Hormel Foods Corporation has a 52 week low of $30.86 and a 52 week high of $38.84. The stock’s 50 day moving average price is $33.53 and its 200-day moving average price is $34.48. The company has a market cap of $16.55 billion, a PE ratio of 19.35 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Hormel Foods Corporation will post $1.64 EPS for the current year.

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In other news, insider Thomas R. Day sold 11,139 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luis G. Marconi sold 1,300 shares of the stock in a transaction on 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 in the company, valued at $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in HRL. BlackRock Inc. boosted its position in Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after buying an additional 17,416,591 shares during the last quarter. State Street Corp boosted its position in Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. Fairpointe Capital LLC purchased a new position in Hormel Foods Corporation during the second quarter valued at $113,723,000. Westwood Holdings Group Inc. boosted its position in Hormel Foods Corporation by 738.9% in the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock valued at $87,700,000 after buying an additional 2,230,574 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock valued at $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. 38.40% of the stock is currently owned by hedge funds and other institutional investors.

About Hormel Foods Corporation

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