Hormel Foods Co. (NYSE:HRL)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $41.83 and last traded at $41.91, with a volume of 55516 shares traded. The stock had previously closed at $42.41.
HRL has been the subject of a number of research reports. Credit Suisse Group cut their target price on shares of Hormel Foods from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 7th. TheStreet downgraded shares of Hormel Foods from a “b” rating to a “c+” rating in a report on Tuesday, September 7th. Barclays lowered their price target on shares of Hormel Foods from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 3rd. Finally, Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Friday, May 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $44.80.
The business’s 50 day moving average is $45.81 and its two-hundred day moving average is $47.04. The firm has a market capitalization of $22.73 billion, a PE ratio of 26.84, a P/E/G ratio of 3.40 and a beta of -0.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.15 and a quick ratio of 1.01.
In other Hormel Foods news, VP Steven J. Lykken sold 22,600 shares of the stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $47.61, for a total transaction of $1,075,986.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Grandview Asset Management LLC bought a new position in shares of Hormel Foods in the first quarter worth approximately $44,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Hormel Foods by 789.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 943 shares of the company’s stock worth $45,000 after purchasing an additional 837 shares during the last quarter. Pflug Koory LLC bought a new position in shares of Hormel Foods in the second quarter worth approximately $53,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Hormel Foods by 63.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,185 shares of the company’s stock worth $57,000 after purchasing an additional 460 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its holdings in shares of Hormel Foods by 33.3% in the first quarter. CSat Investment Advisory L.P. now owns 1,246 shares of the company’s stock worth $60,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 40.48% of the company’s stock.
About Hormel Foods (NYSE:HRL)
Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.
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