Hormel Foods Corporation (HRL) Rating Lowered to Sell at BidaskClub
Hormel Foods Corporation (NYSE:HRL) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
Other research analysts have also issued reports about the company. Credit Suisse Group cut their price objective on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 26th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Jefferies Group LLC restated a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 30th. Mizuho initiated coverage on Hormel Foods Corporation in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Stephens restated an “overweight” rating and issued a $50.00 target price on shares of Hormel Foods Corporation in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus price target of $40.27.
Shares of Hormel Foods Corporation (HRL) traded down 1.40% on Tuesday, reaching $33.72. The company’s stock had a trading volume of 852,682 shares. The stock has a market cap of $17.82 billion, a PE ratio of 20.56 and a beta of 0.56. Hormel Foods Corporation has a 12-month low of $32.26 and a 12-month high of $40.00. The firm has a 50 day moving average price of $33.75 and a 200-day moving average price of $34.76.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Equities research analysts expect that Hormel Foods Corporation will post $1.66 EPS for the current year.
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In other news, insider Luis G. Marconi sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total value of $45,253.00. Following the transaction, the insider now owns 22,532 shares in the company, valued at $784,338.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas R. Day sold 11,139 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the transaction, the insider now owns 24,838 shares in the company, valued at approximately $830,334.34. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Partners LLC increased its position in shares of Hormel Foods Corporation by 1.2% in the first quarter. Advisor Partners LLC now owns 6,897 shares of the company’s stock worth $239,000 after buying an additional 79 shares in the last quarter. Swiss National Bank increased its position in shares of Hormel Foods Corporation by 20.2% in the first quarter. Swiss National Bank now owns 1,413,994 shares of the company’s stock worth $48,967,000 after buying an additional 237,500 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Hormel Foods Corporation by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 379,047 shares of the company’s stock worth $13,195,000 after buying an additional 18,241 shares in the last quarter. Vicus Capital bought a new position in shares of Hormel Foods Corporation during the first quarter worth $641,000. Finally, Nexus Investment Management Inc. increased its position in shares of Hormel Foods Corporation by 33.3% in the second quarter. Nexus Investment Management Inc. now owns 8,000 shares of the company’s stock worth $273,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 38.35% of the company’s stock.
Hormel Foods Corporation Company Profile
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