Hormel Foods Corp. (NYSE:HRL) shares were up 0.7% on Wednesday . The company traded as high as $38.20 and last traded at $38.16, with a volume of 683,575 shares trading hands. The stock had previously closed at $37.88.

A number of research analysts recently weighed in on HRL shares. BMO Capital Markets raised shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Friday, August 19th. Jefferies Group reissued a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, June 7th. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Zacks Investment Research lowered shares of Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $38.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $40.49.

The stock has a market capitalization of $20.26 billion and a price-to-earnings ratio of 24.84. The stock has a 50 day moving average price of $37.07 and a 200 day moving average price of $38.72.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Analysts forecast that Hormel Foods Corp. will post $1.63 earnings per share for the current fiscal year.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the company’s 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 transaction, 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 at this link.

A number of hedge funds and institutional investors recently modified their holdings of the company. US Bancorp DE raised its position 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 during the last quarter. I.G. Investment Management LTD. raised its position 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. State of Tennessee Treasury Department raised its position 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, BNP Paribas Arbitrage SA raised its position 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.

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