Hormel Foods Corp. (NYSE:HRL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $38.43, but opened at $38.66. Hormel Foods Corp. shares last traded at $39.30, with a volume of 1,995,814 shares traded.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 6th. Jefferies Group restated a “hold” rating and set a $40.00 target price (down from $43.00) on shares of Hormel Foods Corp. in a research report on Thursday, May 19th. Deutsche Bank AG restated a “hold” rating and set a $38.00 target price on shares of Hormel Foods Corp. in a research report on Tuesday, August 16th. Credit Suisse Group AG upgraded Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $38.00 to $43.00 in a research report on Monday. Finally, BMO Capital Markets upgraded Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.05.

The company’s 50 day moving average is $36.77 and its 200-day moving average is $38.84. The stock has a market cap of $20.93 billion and a PE ratio of 25.66.

Hormel Foods Corp. (NYSE:HRL) last posted its earnings results on Thursday, August 18th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm earned $2.30 billion during the quarter, compared to the consensus estimate of $2.26 billion. Hormel Foods Corp.’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities analysts expect that Hormel Foods Corp. will post $1.62 earnings per share for the current fiscal year.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $36.74, for a total value of $183,700.00. Following the completion of the transaction, the director now directly owns 96,416 shares in the company, valued at $3,542,323.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Several large investors recently modified their holdings of the stock. Stephens Inc. AR bought a new stake in shares of Hormel Foods Corp. during the fourth quarter valued at $1,525,000. Advisors Asset Management Inc. boosted its stake in shares of Hormel Foods Corp. by 168.4% in the fourth quarter. Advisors Asset Management Inc. now owns 30,797 shares of the company’s stock valued at $2,435,000 after buying an additional 19,322 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Hormel Foods Corp. by 2.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 64,206 shares of the company’s stock valued at $5,077,000 after buying an additional 1,569 shares during the last quarter. 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 during the last quarter. Finally, 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 during the last quarter.

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