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

Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a report on Friday, May 6th. Jefferies Group reaffirmed a “hold” rating and issued a $40.00 price target (down from $43.00) on shares of Hormel Foods Corp. in a research report on Thursday, May 19th. Edward Jones raised Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $38.00 price target on shares of Hormel Foods Corp. in a research report on Tuesday, August 16th. Finally, Credit Suisse Group AG raised 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 report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.49.

The company has a market cap of $20.49 billion and a PE ratio of 25.12. The firm’s 50 day moving average price is $36.89 and its 200 day moving average price is $38.83.

Hormel Foods Corp. (NYSE:HRL) last issued its quarterly 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. During the same period last year, the company posted $0.28 earnings per share. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Hormel Foods Corp. will post $1.63 EPS for the current fiscal year.

In related news, Director Dakota A. Pippins sold 5,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $36.74, for a total transaction of $183,700.00. Following the completion of the transaction, the director now directly owns 96,416 shares of the company’s stock, valued at $3,542,323.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Several hedge funds have added to or reduced their stakes in HRL. State of Tennessee Treasury Department boosted its stake in 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 worth $6,567,000 after buying an additional 62,546 shares during the last quarter. US Bancorp DE boosted its stake in Hormel Foods Corp. by 32.6% in the fourth quarter. US Bancorp DE now owns 343,844 shares of the company’s stock worth $27,191,000 after buying an additional 84,467 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake 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 worth $5,077,000 after buying an additional 1,569 shares during the last quarter. Stephens Inc. AR acquired a new stake in Hormel Foods Corp. during the fourth quarter worth about $1,525,000. Finally, Principal Financial Group Inc. boosted its stake 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 worth $15,862,000 after buying an additional 1,495 shares during the last quarter.

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