Hormel Foods Corporation (NYSE:HRL) Rating Lowered to Sell at BidaskClub

Hormel Foods Corporation (NYSE:HRL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

A number of other analysts have also weighed in on the company. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a research note on Friday, June 30th. Stephens restated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 16th. Mizuho assumed coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price for the company. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Finally, Barclays PLC assumed coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.27.

Hormel Foods Corporation (NYSE:HRL) traded down 1.40% on Tuesday, reaching $33.72. 852,682 shares of the company’s stock traded hands. The firm’s 50-day moving average is $33.75 and its 200 day moving average is $34.76. The firm 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.

Hormel Foods Corporation (NYSE:HRL) last released 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. Equities analysts predict 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 on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the completion of the transaction, the insider now directly owns 22,532 shares in the company, valued at $784,338.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas R. Day sold 11,139 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 24,838 shares of the company’s stock, valued at $830,334.34. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of HRL. Cleararc Capital Inc. increased its position in shares of Hormel Foods Corporation by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock valued at $228,000 after buying an additional 19 shares during the last quarter. Harfst & Associates Inc. increased its position in shares of Hormel Foods Corporation by 0.4% in the first quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock valued at $347,000 after buying an additional 40 shares during the last quarter. ING Groep NV increased its position in shares of Hormel Foods Corporation by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock valued at $471,000 after buying an additional 53 shares during the last quarter. Dynamic Advisors Solutions LLC increased its position in shares of Hormel Foods Corporation by 0.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the last quarter. Finally, Ffcm LLC increased its position in shares of Hormel Foods Corporation by 0.7% in the first quarter. Ffcm LLC now owns 8,996 shares of the company’s stock valued at $312,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 38.35% of the company’s stock.

Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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