Hormel Foods Corp. (NYSE:HRL) Given Average Rating of “Hold” by Brokerages

hormel-foods-corp-nysehrl-given-average-rating-of-8220hold8221-by-brokerages.gif

Shares of Hormel Foods Corp. (NYSE:HRL) have received an average recommendation of “Hold” from the twelve analysts that are covering the firm. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $40.81.
A number of equities analysts have weighed in on the stock. Jefferies Group reaffirmed a “hold” rating and set a $40.00 target price (down previously from $43.00) on shares of Hormel Foods Corp. in a research note on Thursday, May 19th. Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, August 23rd. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Deutsche Bank AG reaffirmed a “hold” rating and set a $38.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Finally, Credit Suisse Group AG raised shares of Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and raised their target price for the company from $38.00 to $43.00 in a research note on Monday, August 22nd.
Hormel Foods Corp. (NYSE:HRL) traded up 0.234% during trading on Thursday, reaching $36.415. The company had a trading volume of 571,003 shares. The firm has a market capitalization of $19.27 billion, a PE ratio of 23.646 and a beta of 0.56. The firm’s 50 day moving average price is $37.32 and its 200 day moving average price is $38.32. Hormel Foods Corp. has a 12-month low of $29.94 and a 12-month high of $45.72.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/15/hormel-foods-corp-nysehrl-given-average-rating-of-hold-by-brokerages.html

Hormel Foods Corp. (NYSE:HRL) last announced its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The business earned $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Hormel Foods Corp. will post $1.63 EPS for the current year.
In related news, Director Dakota A. Pippins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $36.74, for a total value of $183,700.00. Following the sale, the director now owns 96,416 shares in the company, valued at $3,542,323.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.54% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Hormel Foods Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,503,290 shares of the company’s stock valued at $1,006,620,000 after buying an additional 477,355 shares in the last quarter. State Street Corp boosted its position in shares of Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock valued at $538,944,000 after buying an additional 109,675 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Hormel Foods Corp. by 73.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,305,830 shares of the company’s stock valued at $315,904,000 after buying an additional 3,100,653 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock valued at $189,557,000 after buying an additional 1,163,942 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in shares of Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock valued at $176,925,000 after buying an additional 233,925 shares in the last quarter. Institutional investors and hedge funds own 34.05% of the company’s stock.
About Hormel Foods Corp.

Receive News & Ratings for Hormel Foods Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Hormel Foods Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Hormel Foods Corp. (NYSE:HRL) Given Average Rating of “Hold” by Brokerages"

Leave a comment

Your email address will not be published.

*