Research analysts at Morgan Stanley initiated coverage on shares of Hormel Foods Corporation (NYSE:HRL) in a research report issued to clients and investors on Friday. The brokerage set an “underweight” rating and a $26.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential downside of 16.99% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $38.00 target price (down previously from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Mizuho reaffirmed a “hold” rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research note on Wednesday, October 4th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research note on Saturday, August 26th. They set an “outperform” rating for the company. Finally, BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.44.

Shares of Hormel Foods Corporation (HRL) traded down $0.19 during mid-day trading on Friday, hitting $31.32. The stock had a trading volume of 2,757,825 shares, compared to its average volume of 2,507,901. The firm has a market capitalization of $16,531.57, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. The company has a current ratio of 2.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05. Hormel Foods Corporation has a 12 month low of $29.75 and a 12 month high of $38.35.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 EPS. equities analysts forecast that Hormel Foods Corporation will post 1.57 earnings per share for the current year.

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In other news, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the transaction, the insider now owns 26,838 shares in the company, valued at $838,150.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the transaction, the vice president now owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,518 shares of company stock worth $6,132,366. Corporate insiders own 3.54% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Grandfield & Dodd LLC lifted its holdings in shares of Hormel Foods Corporation by 1.0% in the third quarter. Grandfield & Dodd LLC now owns 727,935 shares of the company’s stock valued at $23,396,000 after purchasing an additional 6,961 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Hormel Foods Corporation by 12.9% in the third quarter. BNP Paribas Arbitrage SA now owns 177,263 shares of the company’s stock valued at $5,697,000 after purchasing an additional 20,186 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in shares of Hormel Foods Corporation by 15.0% in the third quarter. Global X MANAGEMENT CO LLC now owns 20,601 shares of the company’s stock valued at $662,000 after purchasing an additional 2,682 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Hormel Foods Corporation by 1.0% in the third quarter. Swiss National Bank now owns 1,458,694 shares of the company’s stock valued at $46,882,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Hormel Foods Corporation in the third quarter valued at approximately $339,000. Institutional investors own 38.06% of the company’s stock.

Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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