Hormel Foods Corp. (NYSE:HRL) dropped 1.2% during trading on Tuesday . The company traded as low as $38.97 and last traded at $39.03, with a volume of 953,709 shares trading hands. The stock had previously closed at $39.51.

HRL has been the topic of a number of analyst reports. 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 reiterated a “hold” rating and issued a $40.00 price target (down previously 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. BMO Capital Markets upgraded Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Friday. Finally, Credit Suisse Group AG upgraded Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and upped their target price for the company from $38.00 to $43.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $40.49.

The company has a 50 day moving average of $36.84 and a 200 day moving average of $38.83. The company has a market capitalization of $20.70 billion and a PE ratio of 25.38.

Hormel Foods Corp. (NYSE:HRL) last released its quarterly earnings data on Thursday, August 18th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. During the same quarter in the prior year, the firm posted $0.28 EPS. The company earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Hormel Foods Corp. will post $1.63 EPS for the current year.

In other news, Director Dakota A. Pippins sold 5,000 shares of Hormel Foods Corp. 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 transaction, the director now owns 96,416 shares in the company, valued at $3,542,323.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in 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. BNP Paribas Arbitrage SA increased its position in 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 in the last quarter. Stephens Inc. AR bought a new position in Hormel Foods Corp. during the fourth quarter valued at approximately $1,525,000. Advisors Asset Management Inc. increased its position in 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 in the last quarter. Finally, I.G. Investment Management LTD. increased its position in 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.

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