Hormel Foods Corporation (NYSE:HRL)‘s stock had its “outperform” rating reissued by equities researchers at BMO Capital Markets in a note issued to investors on Friday. They currently have a $38.00 price objective on the stock, down from their prior price objective of $45.00. BMO Capital Markets’ price objective points to a potential upside of 21.25% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Credit Suisse Group reduced their price objective on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Finally, Mizuho started coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.36.

Hormel Foods Corporation (NYSE HRL) traded down 1.02% during midday trading on Friday, hitting $31.02. 1,460,257 shares of the company traded hands. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 19.15 and a beta of 0.56. The stock’s 50-day moving average price is $33.53 and its 200 day moving average price is $34.48. Hormel Foods Corporation has a 12-month low of $30.86 and a 12-month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts forecast that Hormel Foods Corporation will post $1.64 EPS for the current year.

WARNING: “Hormel Foods Corporation (HRL) Earns Outperform Rating from BMO Capital Markets” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/hormel-foods-corporation-hrl-price-target-lowered-to-38-00-at-bmo-capital-markets/1522298.html.

In related news, insider Thomas R. Day sold 11,139 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $830,334.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the company’s stock in a transaction dated 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 owns 22,532 shares in the company, valued at approximately $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Advisor Partners LLC boosted its position in shares of Hormel Foods Corporation by 1.2% in the first quarter. Advisor Partners LLC now owns 6,897 shares of the company’s stock worth $239,000 after buying an additional 79 shares during the last quarter. Swiss National Bank boosted its position in shares of Hormel Foods Corporation by 20.2% in the first quarter. Swiss National Bank now owns 1,413,994 shares of the company’s stock worth $48,967,000 after buying an additional 237,500 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Hormel Foods Corporation by 24.1% in the first quarter. Jacobi Capital Management LLC now owns 10,300 shares of the company’s stock worth $355,000 after buying an additional 2,000 shares during the last quarter. Nexus Investment Management Inc. boosted its position in shares of Hormel Foods Corporation by 33.3% in the second quarter. Nexus Investment Management Inc. now owns 8,000 shares of the company’s stock worth $273,000 after buying an additional 2,000 shares during the last quarter. Finally, Hills Bank & Trust Co. purchased a new position in shares of Hormel Foods Corporation during the second quarter worth about $210,000. Institutional investors own 38.90% of the company’s stock.

About Hormel Foods Corporation

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

Receive News & Ratings for Hormel Foods Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.