Hormel Foods Corporation (HRL) PT Set at $34.00 by Mizuho
Hormel Foods Corporation (NYSE:HRL) has been assigned a $34.00 target price by research analysts at Mizuho in a report released on Saturday. The firm currently has a “hold” rating on the stock. Mizuho’s price target would suggest a potential downside of 1.19% from the company’s current price.
HRL has been the subject of several other research reports. BMO Capital Markets reissued a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a research note on Monday, November 6th. Barclays PLC dropped their price objective on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, August 25th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. BidaskClub raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Credit Suisse Group set a $33.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Hormel Foods presently has a consensus rating of “Hold” and a consensus price target of $35.00.
Shares of Hormel Foods (NYSE:HRL) opened at $34.41 on Friday. The stock has a market capitalization of $18,162.56, a price-to-earnings ratio of 21.78, a P/E/G ratio of 2.23 and a beta of 0.58. Hormel Foods has a 52 week low of $29.75 and a 52 week high of $37.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.91.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. equities analysts expect that Hormel Foods will post 1.65 EPS for the current fiscal year.
In other Hormel Foods news, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the sale, the vice president now owns 60,000 shares in the company, valued at $1,852,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $31.23, for a total value of $468,450.00. Following the sale, the insider now owns 26,838 shares in the company, valued at approximately $838,150.74. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock worth $6,132,366 in the last 90 days. Company insiders own 3.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its holdings in shares of Hormel Foods by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $570,000 after buying an additional 100 shares during the period. PGGM Investments purchased a new position in shares of Hormel Foods in the second quarter worth about $18,308,000. Russell Investments Group Ltd. increased its holdings in shares of Hormel Foods by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 162,808 shares of the company’s stock worth $5,553,000 after buying an additional 25,319 shares during the period. ING Groep NV increased its holdings in shares of Hormel Foods by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after buying an additional 53 shares during the period. Finally, Shell Asset Management Co. increased its holdings in shares of Hormel Foods by 4.1% in the second quarter. Shell Asset Management Co. now owns 40,249 shares of the company’s stock worth $1,373,000 after buying an additional 1,582 shares during the period. Institutional investors and hedge funds own 38.17% of the company’s stock.
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Hormel Foods Company Profile
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