Stephens Reiterates “Equal Weight” Rating for Hormel Foods (NYSE:HRL)

Hormel Foods (NYSE:HRLGet Free Report)‘s stock had its “equal weight” rating restated by equities researchers at Stephens in a report released on Friday, Benzinga reports. They currently have a $32.00 price objective on the stock. Stephens’ price objective points to a potential upside of 3.29% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Barclays boosted their target price on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $29.00 in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a report on Friday, March 1st. Finally, Citigroup assumed coverage on shares of Hormel Foods in a report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.67.

Check Out Our Latest Stock Analysis on Hormel Foods

Hormel Foods Stock Up 0.6 %

Shares of HRL stock opened at $30.98 on Friday. The stock has a market cap of $16.97 billion, a P/E ratio of 22.13, a PEG ratio of 2.97 and a beta of 0.28. Hormel Foods has a 52 week low of $28.51 and a 52 week high of $41.73. The company has a quick ratio of 0.79, a current ratio of 1.73 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $34.92 and its two-hundred day simple moving average is $32.85.

Hormel Foods (NYSE:HRLGet Free Report) last posted its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.12%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm posted $0.40 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Hormel Foods will post 1.59 EPS for the current fiscal year.

Insider Transactions at Hormel Foods

In other news, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the completion of the sale, the senior vice president now owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hormel Foods news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the transaction, the vice president now owns 68,029 shares of the company’s stock, valued at $2,381,015. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,708 shares of the company’s stock, valued at approximately $1,352,844.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,800 shares of company stock valued at $1,414,872. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Hormel Foods

Hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in Hormel Foods by 6.7% during the third quarter. Victory Capital Management Inc. now owns 459,551 shares of the company’s stock worth $17,477,000 after acquiring an additional 29,035 shares during the period. Jump Financial LLC purchased a new stake in Hormel Foods in the 3rd quarter worth approximately $202,000. Metis Global Partners LLC increased its holdings in shares of Hormel Foods by 22.4% during the 3rd quarter. Metis Global Partners LLC now owns 10,687 shares of the company’s stock valued at $406,000 after purchasing an additional 1,954 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of Hormel Foods by 5.4% in the 3rd quarter. New York Life Investment Management LLC now owns 57,152 shares of the company’s stock valued at $2,173,000 after purchasing an additional 2,905 shares during the period. Finally, Banco Santander S.A. increased its holdings in Hormel Foods by 10.0% in the third quarter. Banco Santander S.A. now owns 18,770 shares of the company’s stock valued at $714,000 after buying an additional 1,707 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Company Profile

(Get Free Report)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

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Analyst Recommendations for Hormel Foods (NYSE:HRL)

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