Vetr downgraded shares of Hormel Foods Corp. (NYSE:HRL) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning. They currently have $42.00 target price on the stock.

HRL has been the topic of a number of other research reports. 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 report on Friday, August 19th. Jefferies Group restated a hold rating and issued a $34.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, June 7th. Edward Jones upgraded Hormel Foods Corp. from a hold rating to a buy rating in a research note on Wednesday, August 24th. Oppenheimer Holdings Inc. initiated coverage on Hormel Foods Corp. in a research note on Friday, September 16th. They issued a market perform rating and a $39.00 price target on the stock. Finally, Deutsche Bank AG restated a hold rating and issued a $38.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $40.10.

Shares of Hormel Foods Corp. (NYSE:HRL) opened at 37.75 on Thursday. Hormel Foods Corp. has a 52 week low of $30.50 and a 52 week high of $45.72. The firm has a 50 day moving average price of $37.33 and a 200 day moving average price of $38.07. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 24.51 and a beta of 0.56.

Hormel Foods Corp. (NYSE:HRL) last posted its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts forecast 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 the stock in a transaction 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 transaction, the director now directly owns 96,416 shares of the company’s stock, valued at approximately $3,542,323.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.54% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in HRL. Vanguard Group Inc. boosted its position in Hormel Foods Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,503,290 shares of the company’s stock valued at $1,006,620,000 after buying an additional 477,355 shares during the last quarter. State Street Corp boosted its position in Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock valued at $538,944,000 after buying an additional 109,675 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Hormel Foods Corp. by 73.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,305,830 shares of the company’s stock valued at $315,904,000 after buying an additional 3,100,653 shares during the last quarter. Janus Capital Management LLC boosted its position in Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock valued at $189,557,000 after buying an additional 1,163,942 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock valued at $176,925,000 after buying an additional 233,925 shares during the last quarter. 34.10% of the stock is currently owned by hedge funds and other institutional investors.

About Hormel Foods Corp.

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