Hormel Foods Corp. (NYSE:HRL) was down 1.9% on Wednesday . The company traded as low as $36.20 and last traded at $36.21, with a volume of 1,255,849 shares changing hands. The stock had previously closed at $36.91.

A number of equities research analysts recently weighed in on HRL shares. Jefferies Group reiterated a “hold” rating on shares of Hormel Foods Corp. in a report on Wednesday. BB&T Corp. lowered shares of Hormel Foods Corp. from a “hold” rating to an “underweight” rating in a report on Tuesday, April 5th. Credit Agricole SA started coverage on shares of Hormel Foods Corp. in a report on Wednesday, April 13th. They set an “underperform” rating for the company. Zacks Investment Research lowered shares of Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a report on Friday, May 6th. Finally, Vetr upgraded shares of Hormel Foods Corp. from a “buy” rating to a “strong-buy” rating and set a $44.45 price objective for the company in a report on Thursday, April 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $39.83.

The stock has a market cap of $19.14 billion and a PE ratio of 24.92. The stock has a 50-day moving average price of $36.11 and a 200 day moving average price of $39.02.

Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings results on Wednesday, May 18th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts forecast that Hormel Foods Corp. will post $1.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 18th will be given a dividend of $0.145 per share. The ex-dividend date is Thursday, July 14th. This represents a $0.58 annualized dividend and a dividend yield of 1.61%.

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 transaction of $183,700.00. Following the sale, the director now owns 96,416 shares of the company’s stock, valued at $3,542,323.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds have modified their holdings of HRL. Bank of Montreal Can boosted its stake in shares of Hormel Foods Corp. by 49.5% in the fourth quarter. Bank of Montreal Can now owns 404,191 shares of the company’s stock valued at $31,963,000 after buying an additional 133,892 shares in the last quarter. US Bancorp DE boosted its stake in shares of Hormel Foods Corp. by 32.6% in the fourth quarter. US Bancorp DE now owns 343,844 shares of the company’s stock valued at $27,191,000 after buying an additional 84,467 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hormel Foods Corp. by 0.8% in the fourth quarter. Principal Financial Group Inc. now owns 200,592 shares of the company’s stock valued at $15,862,000 after buying an additional 1,495 shares in the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Hormel Foods Corp. by 42.6% in the fourth quarter. I.G. Investment Management LTD. now owns 83,400 shares of the company’s stock valued at $6,595,000 after buying an additional 24,900 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of Hormel Foods Corp. by 305.1% in the fourth quarter. State of Tennessee Treasury Department now owns 83,046 shares of the company’s stock valued at $6,567,000 after buying an additional 62,546 shares in the last quarter.

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