Hormel Foods (HRL) Now Covered by Piper Jaffray Companies

Stock analysts at Piper Jaffray Companies began coverage on shares of Hormel Foods (NYSE:HRL) in a report issued on Thursday. The firm set an “overweight” rating and a $42.00 price target on the stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 15.54% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Stephens reduced their target price on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Morgan Stanley started coverage on shares of Hormel Foods in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 target price on the stock. Jefferies Group set a $34.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a report on Sunday, October 29th. Finally, Credit Suisse Group set a $33.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a report on Friday, November 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.70.

Shares of Hormel Foods (NYSE HRL) opened at $36.35 on Thursday. Hormel Foods has a 12-month low of $29.75 and a 12-month high of $38.00. The company has a market cap of $19,250.00, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. equities analysts forecast that Hormel Foods will post 1.67 earnings per share for the current year.

In related news, Director Robert Nakasone sold 3,184 shares of Hormel Foods stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elsa A. Murano sold 7,129 shares of Hormel Foods stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the sale, the director now owns 90,991 shares in the company, valued at $3,275,676. The disclosure for this sale can be found here. Insiders sold 155,815 shares of company stock worth $5,402,159 over the last quarter. 3.54% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. grew its stake in Hormel Foods by 0.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after acquiring an additional 19 shares in the last quarter. Rowland & Co. Investment Counsel ADV lifted its holdings in Hormel Foods by 0.6% in the 2nd quarter. Rowland & Co. Investment Counsel ADV now owns 17,720 shares of the company’s stock worth $605,000 after purchasing an additional 100 shares during the last quarter. Keel Point LLC lifted its holdings in Hormel Foods by 2.5% in the 2nd quarter. Keel Point LLC now owns 5,999 shares of the company’s stock worth $205,000 after purchasing an additional 145 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Hormel Foods by 1.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,878 shares of the company’s stock worth $371,000 after purchasing an additional 168 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in Hormel Foods by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 20,869 shares of the company’s stock worth $712,000 after purchasing an additional 218 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

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