Hormel Foods Corporation (NYSE:HRL) – Investment analysts at Oppenheimer Holdings cut their Q4 2017 earnings estimates for Hormel Foods Corporation in a research report issued on Thursday. Oppenheimer Holdings analyst R. Parikh now expects that the company will earn $0.38 per share for the quarter, down from their prior forecast of $0.45.

HRL has been the subject of several other research reports. BMO Capital Markets restated an “outperform” rating and issued a $38.00 price target (down previously from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 7th. Credit Suisse Group lowered shares of Hormel Foods Corporation from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $39.00 to $33.00 in a report on Friday, August 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a report on Monday, June 12th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.36.

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Shares of Hormel Foods Corporation (NYSE:HRL) opened at 30.97 on Monday. Hormel Foods Corporation has a one year low of $30.81 and a one year high of $38.84. The firm’s 50-day moving average price is $33.53 and its 200-day moving average price is $34.48. The firm has a market capitalization of $16.36 billion, a P/E ratio of 19.12 and a beta of 0.56.

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 Zacks’ consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis.

Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Hormel Foods Corporation during the first quarter valued at $452,000. Candriam Luxembourg S.C.A. increased its stake in Hormel Foods Corporation by 12.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 19,034 shares of the company’s stock valued at $659,000 after buying an additional 2,087 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in Hormel Foods Corporation by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,762 shares of the company’s stock valued at $251,000 after buying an additional 399 shares during the period. Sigma Planning Corp increased its stake in Hormel Foods Corporation by 15.1% in the first quarter. Sigma Planning Corp now owns 7,745 shares of the company’s stock valued at $268,000 after buying an additional 1,018 shares during the period. Finally, Strs Ohio increased its stake in Hormel Foods Corporation by 18.6% in the first quarter. Strs Ohio now owns 30,746 shares of the company’s stock valued at $1,064,000 after buying an additional 4,830 shares during the period. 38.90% of the stock is currently owned by institutional investors.

In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the sale, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the sale, the insider now directly 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 currently owned by insiders.

Hormel Foods Corporation Company Profile

Earnings History and Estimates for Hormel Foods Corporation (NYSE:HRL)

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