Hormel Foods Corp Hits New 52-Week High at $51.25 (HRL)
Shares of Hormel Foods Corp (NYSE:HRL) hit a new 52-week high during mid-day trading on Tuesday , AnalystRatingsNetwork.com reports. The company traded as high as $51.25 and last traded at $50.75, with a volume of 295,536 shares. The stock had previously closed at $50.68.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp in a research note on Friday. They now have a $53.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Hormel Foods Corp in a research note on Friday, August 22nd. They now have a $52.00 price target on the stock, up previously from $50.00. Finally, analysts at Stephens upgraded shares of Hormel Foods Corp from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 22nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.75.
The stock has a 50-day moving average of $47.75 and a 200-day moving average of $47.87. The company has a market cap of $13.442 billion and a P/E ratio of 23.25.
Hormel Foods Corp (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Hormel Foods Corp will post $2.23 EPS for the current fiscal year.
In other Hormel Foods Corp news, VP Brian Dean Johnson sold 3,000 shares of Hormel Foods Corp stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $50.63, for a total transaction of $151,890.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
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