Hormel Foods (HRL) Price Target Cut to $33.00 by Analysts at Credit Suisse Group
Hormel Foods (NYSE:HRL) had its price target decreased by Credit Suisse Group from $36.00 to $33.00 in a research report sent to investors on Tuesday. Credit Suisse Group currently has a neutral rating on the stock.
Several other brokerages have also recently issued reports on HRL. Jefferies Group set a $34.00 target price on shares of Hormel Foods and gave the stock a hold rating in a report on Thursday, November 30th. Piper Jaffray Companies started coverage on shares of Hormel Foods in a research note on Thursday, January 4th. They set an overweight rating and a $42.00 price target on the stock. Barclays set a $40.00 price target on shares of Hormel Foods and gave the stock an overweight rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Hormel Foods from a buy rating to a hold rating in a research note on Friday, December 1st. Finally, Mizuho set a $34.00 price target on shares of Hormel Foods and gave the stock a hold rating in a research note on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of Hold and an average price target of $34.60.
Shares of Hormel Foods (HRL) opened at $32.65 on Tuesday. Hormel Foods has a fifty-two week low of $29.75 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74. The stock has a market cap of $17,137.37, a P/E ratio of 20.48, a P/E/G ratio of 1.94 and a beta of 0.53.
In related news, Director Elsa A. Murano sold 7,129 shares of Hormel Foods stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the transaction, the director now owns 90,991 shares in the company, valued at approximately $3,275,676. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Nakasone sold 3,184 shares of Hormel Foods stock in a transaction on Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,883 shares of company stock worth $397,054 in the last quarter. Corporate insiders own 3.54% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of Hormel Foods by 33.2% during the 4th quarter. US Bancorp DE now owns 2,046,311 shares of the company’s stock valued at $74,466,000 after buying an additional 510,148 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Hormel Foods by 37.3% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 43,300 shares of the company’s stock valued at $1,392,000 after buying an additional 11,760 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Hormel Foods by 22.4% during the 3rd quarter. Janus Henderson Group PLC now owns 96,647 shares of the company’s stock valued at $3,107,000 after buying an additional 17,709 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Hormel Foods during the 3rd quarter valued at $462,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Hormel Foods by 44.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 107,397 shares of the company’s stock valued at $3,452,000 after buying an additional 33,179 shares in the last quarter. Institutional investors own 38.65% of the company’s stock.
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Hormel Foods Company Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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