Hormel Foods Corp. (NYSE:HRL) – Oppenheimer Holdings issued their FY2016 earnings per share estimates for shares of Hormel Foods Corp. in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst R. Parikh forecasts that the brokerage will post earnings of $1.62 per share for the year. Oppenheimer Holdings currently has a “Market Perform” rating and a $39.00 target price on the stock. Oppenheimer Holdings also issued estimates for Hormel Foods Corp.’s Q4 2016 earnings at $0.43 EPS, FY2017 earnings at $1.65 EPS and FY2018 earnings at $1.77 EPS.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share.

HRL has been the topic of several other research reports. BMO Capital Markets raised shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Friday, August 19th. Jefferies Group reissued a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, June 7th. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Deutsche Bank AG reissued a “hold” rating and issued a $38.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Hormel Foods Corp. has an average rating of “Hold” and a consensus price target of $40.35.

Hormel Foods Corp. (NYSE:HRL) opened at 36.58 on Monday. Hormel Foods Corp. has a one year low of $29.93 and a one year high of $45.72. The firm has a 50-day moving average of $37.30 and a 200 day moving average of $38.14. The stock has a market capitalization of $19.36 billion, a PE ratio of 23.75 and a beta of 0.56.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $36.74, for a total transaction of $183,700.00. Following the transaction, the director now directly owns 96,416 shares in the company, valued at approximately $3,542,323.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.54% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Hormel Foods Corp. by 116.5% in the first quarter. Geode Capital Management LLC now owns 2,345,955 shares of the company’s stock valued at $101,243,000 after buying an additional 1,262,153 shares during the last quarter. Legal & General Group Plc raised its stake in Hormel Foods Corp. by 89.5% in the first quarter. Legal & General Group Plc now owns 1,160,357 shares of the company’s stock valued at $50,177,000 after buying an additional 548,017 shares during the last quarter. UBS Group AG raised its stake in Hormel Foods Corp. by 58.8% in the first quarter. UBS Group AG now owns 645,597 shares of the company’s stock valued at $27,916,000 after buying an additional 239,127 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Hormel Foods Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 230,931 shares of the company’s stock valued at $8,453,000 after buying an additional 2,805 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Hormel Foods Corp. during the first quarter valued at approximately $303,000. 34.05% of the stock is owned by institutional investors and hedge funds.

About Hormel Foods Corp.

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