Hormel Foods (NYSE:HRL) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Monday, The Fly reports. They presently have a $44.00 price objective on the stock, up from their prior price objective of $38.00. BMO Capital Markets’ price objective suggests a potential upside of 8.43% from the stock’s current price. The analysts noted that the move was a valuation call.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Hormel Foods from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Buckingham Research lowered their target price on shares of Hormel Foods from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, May 25th. Barclays cut shares of Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 target price for the company. in a research note on Friday, August 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $42.00 target price on shares of Hormel Foods in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.90.

Shares of Hormel Foods stock opened at $40.58 on Monday. The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. Hormel Foods has a 52-week low of $29.75 and a 52-week high of $42.29. The company has a market capitalization of $22.34 billion, a PE ratio of 25.85, a PEG ratio of 2.87 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. equities research analysts expect that Hormel Foods will post 1.76 earnings per share for the current fiscal year.

In other Hormel Foods news, Director Robert Nakasone sold 10,000 shares of Hormel Foods stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $37.30, for a total transaction of $373,000.00. Following the completion of the sale, the director now directly owns 120,973 shares in the company, valued at approximately $4,512,292.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven J. Lykken sold 3,614 shares of Hormel Foods stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.93, for a total transaction of $140,693.02. Following the sale, the insider now owns 14,337 shares of the company’s stock, valued at $558,139.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,148 shares of company stock valued at $5,976,612. Company insiders own 1.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new stake in Hormel Foods during the 2nd quarter valued at approximately $118,000. Fort L.P. purchased a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $125,000. IMS Capital Management purchased a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $130,000. Dupont Capital Management Corp purchased a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $135,000. Finally, IBM Retirement Fund purchased a new position in shares of Hormel Foods during the 1st quarter valued at approximately $203,000. Institutional investors and hedge funds own 41.82% of the company’s stock.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Analyst Recommendations for Hormel Foods (NYSE:HRL)

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