Hormel Foods (NYSE:HRL)‘s stock had its “neutral” rating restated by research analysts at Credit Suisse Group in a note issued to investors on Sunday.
A number of other research firms have also recently commented on HRL. Morgan Stanley started coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 target price for the company. Barclays set a $40.00 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Friday, December 1st. Jefferies Group upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, February 14th. KeyCorp started coverage on shares of Hormel Foods in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Mizuho set a $34.00 target price 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 given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.60.
Shares of Hormel Foods (NYSE:HRL) traded up $0.19 during trading on Friday, hitting $32.94. 122,560 shares of the stock were exchanged, compared to its average volume of 2,947,812. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.74 and a current ratio of 1.47. Hormel Foods has a 52-week low of $29.75 and a 52-week high of $38.00. The stock has a market cap of $17,340.00, a P/E ratio of 20.73, a P/E/G ratio of 1.95 and a beta of 0.49.
In other Hormel Foods news, Director Elsa A. Murano sold 7,129 shares of Hormel Foods stock in a transaction that occurred 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 completion of the sale, the director now directly owns 90,991 shares in the company, valued at approximately $3,275,676. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Nakasone sold 3,184 shares of Hormel Foods stock in a transaction that occurred 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. Over the last 90 days, insiders have sold 57,385 shares of company stock valued at $2,093,263. Company insiders own 1.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HRL. Dupont Capital Management Corp acquired a new stake in Hormel Foods during the 3rd quarter valued at approximately $100,000. Steward Partners Investment Advisory LLC lifted its stake in Hormel Foods by 3,200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock valued at $120,000 after acquiring an additional 3,200 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in Hormel Foods during the 4th quarter valued at approximately $205,000. Two Sigma Securities LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $206,000. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Hormel Foods in the 4th quarter valued at $218,000. Institutional investors and hedge funds own 38.65% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3223165/credit-suisse-group-reiterates-hold-rating-for-hormel-foods-hrl.html.
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.
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.