Hormel Foods Corp. (HRL) Trading -0.1% Higher

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Hormel Foods Corp. (NYSE:HRL)’s share price traded up 0.1% during trading on Tuesday . The company traded as high as $36.69 and last traded at $36.45, with a volume of 1,329,328 shares. The stock had previously closed at $36.49.
A number of equities analysts recently commented on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Credit Suisse Group AG raised shares of Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $43.00 in a research note on Monday, August 22nd. Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $38.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Finally, Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Hormel Foods Corp. has a consensus rating of “Hold” and an average target price of $40.49.
The company’s 50 day moving average is $37.33 and its 200-day moving average is $38.38. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56.

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Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The business earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. Equities research analysts expect that Hormel Foods Corp. will post $1.63 earnings per share for the current year.
In other news, Director Dakota A. Pippins sold 5,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $36.74, for a total value of $183,700.00. Following the completion of the sale, the director now directly owns 96,416 shares in the company, valued at $3,542,323.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.54% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Wunderlich Securities Inc. boosted its stake in shares of Hormel Foods Corp. by 91.4% in the first quarter. Wunderlich Securities Inc. now owns 13,758 shares of the company’s stock worth $594,000 after buying an additional 6,569 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Hormel Foods Corp. by 117.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 65,801 shares of the company’s stock worth $2,845,000 after buying an additional 35,563 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Hormel Foods Corp. by 82.7% in the first quarter. Capstone Asset Management Co. now owns 57,616 shares of the company’s stock worth $2,491,000 after buying an additional 26,088 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Hormel Foods Corp. by 126.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,774 shares of the company’s stock worth $2,801,000 after buying an additional 36,176 shares during the period. Finally, Denali Advisors LLC boosted its stake in shares of Hormel Foods Corp. by 25.0% in the first quarter. Denali Advisors LLC now owns 130,500 shares of the company’s stock worth $5,643,000 after buying an additional 26,100 shares during the period. Institutional investors and hedge funds own 34.05% of the company’s stock.

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