Hormel Foods (HRL) Given a $34.00 Price Target at Jefferies Group
Hormel Foods (NYSE:HRL) received a $34.00 price objective from analysts at Jefferies Group in a note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective suggests a potential downside of 6.72% from the stock’s current price.
HRL has been the topic of several other research reports. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Stephens cut their price target on Hormel Foods from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Morgan Stanley began coverage on Hormel Foods in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price target for the company. Finally, Barclays cut their price target on Hormel Foods from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.50.
Hormel Foods (NYSE HRL) opened at $36.45 on Thursday. The firm has a market capitalization of $19,240.00, a P/E ratio of 21.89, a PEG ratio of 2.24 and a beta of 0.59. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Hormel Foods has a 12-month low of $29.75 and a 12-month high of $37.97.
In other Hormel Foods news, Director Robert Nakasone sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $34.40, for a total value of $550,400.00. Following the completion of the sale, the director now owns 125,616 shares of the company’s stock, valued at $4,321,190.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the completion of the transaction, the insider now owns 887 shares of the company’s stock, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders have sold 232,430 shares of company stock worth $7,549,746 in the last quarter. Company insiders own 3.54% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HRL. Smith Shellnut Wilson LLC ADV lifted its holdings in Hormel Foods by 88.3% in the third quarter. Smith Shellnut Wilson LLC ADV now owns 11,985 shares of the company’s stock worth $385,000 after acquiring an additional 5,621 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Hormel Foods during the third quarter worth $649,000. Belpointe Asset Management LLC purchased a new stake in Hormel Foods during the 3rd quarter worth about $383,000. IFM Investors Pty Ltd acquired a new stake in shares of Hormel Foods in the 3rd quarter valued at about $271,000. Finally, Independent Advisor Alliance boosted its position in shares of Hormel Foods by 12.4% in the 3rd quarter. Independent Advisor Alliance now owns 20,737 shares of the company’s stock valued at $648,000 after purchasing an additional 2,281 shares during the period. Hedge funds and other institutional investors own 38.33% of the company’s stock.
About Hormel Foods
Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.