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.

Hormel Foods (NYSE:HRL) last announced its earnings results 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. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the company posted $0.45 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. analysts forecast that Hormel Foods will post 1.65 earnings per share for the current year.

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.

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