Oppenheimer Holdings Inc. started coverage on shares of Hormel Foods Corp. (NYSE:HRL) in a report published on Friday morning. The brokerage issued a market perform rating and a $39.00 price target on the stock.

A number of other equities analysts have also commented on the company. Edward Jones raised Hormel Foods Corp. from a hold rating to a buy rating in a research note on Friday, September 16th. Zacks Investment Research raised Hormel Foods Corp. from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Tuesday, August 23rd. Credit Suisse Group AG raised Hormel Foods Corp. from a neutral rating to an outperform rating and lifted their price objective for the stock from $38.00 to $43.00 in a research note on Monday, August 22nd. BMO Capital Markets raised Hormel Foods Corp. from a market perform rating to an outperform rating and set a $44.00 price objective on the stock in a research note on Friday, August 19th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $38.00 price objective on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $40.35.

Hormel Foods Corp. (NYSE:HRL) opened at 37.37 on Friday. Hormel Foods Corp. has a 52 week low of $30.06 and a 52 week high of $45.72. The company has a market capitalization of $19.78 billion, a PE ratio of 24.27 and a beta of 0.56. The stock’s 50 day moving average is $37.28 and its 200 day moving average is $38.08.

Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Hormel Foods Corp. will post $1.63 EPS for the current fiscal year.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $36.74, for a total value of $183,700.00. Following the transaction, the director now directly owns 96,416 shares of the company’s stock, valued at $3,542,323.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.54% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Hormel Foods Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,503,290 shares of the company’s stock valued at $1,006,620,000 after buying an additional 477,355 shares in the last quarter. State Street Corp increased its stake in Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock valued at $538,944,000 after buying an additional 109,675 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Hormel Foods Corp. by 73.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,305,830 shares of the company’s stock valued at $315,904,000 after buying an additional 3,100,653 shares in the last quarter. Janus Capital Management LLC increased its stake in Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock valued at $189,557,000 after buying an additional 1,163,942 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock valued at $176,925,000 after buying an additional 233,925 shares in the last quarter. 34.10% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Corp. Company Profile

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