Barclays Analysts Give Hormel Foods (HRL) a $40.00 Price Target
Hormel Foods (NYSE:HRL) received a $40.00 price objective from equities researchers at Barclays in a research note issued on Friday. The firm currently has an “overweight” rating on the stock. Barclays’ target price would indicate a potential upside of 9.74% from the stock’s previous close.
HRL has been the topic of a number of other reports. Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. They issued an “outperform” rating on the stock. Morgan Stanley started coverage on Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective on the stock. KeyCorp started coverage on Hormel Foods in a research note on Tuesday, October 31st. They issued a “hold” rating on the stock. Mizuho set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. Finally, Zacks Investment Research lowered Hormel Foods from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Hormel Foods currently has an average rating of “Hold” and an average target price of $35.50.
Shares of Hormel Foods (NYSE HRL) traded up $0.46 during trading on Friday, hitting $36.45. The company had a trading volume of 4,573,200 shares, compared to its average volume of 2,401,910. 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 twelve month low of $29.75 and a twelve month high of $37.97. The firm has a market capitalization of $19,240.00, a PE ratio of 21.89, a PEG ratio of 2.24 and a beta of 0.59.
In other Hormel Foods news, insider Steven G. Binder sold 15,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $31.23, for a total transaction of $468,450.00. Following the completion of the sale, the insider now directly owns 26,838 shares in the company, valued at approximately $838,150.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the sale, the insider now owns 887 shares of the company’s stock, valued at $28,082.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,430 shares of company stock worth $7,549,746. Company insiders own 3.54% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System raised its holdings in shares of Hormel Foods by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the company’s stock worth $570,000 after purchasing an additional 100 shares during the period. Russell Investments Group Ltd. raised its stake in Hormel Foods by 18.4% in the second quarter. Russell Investments Group Ltd. now owns 162,808 shares of the company’s stock worth $5,553,000 after buying an additional 25,319 shares in the last quarter. ING Groep NV grew its holdings in Hormel Foods by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after purchasing an additional 53 shares during the period. Shell Asset Management Co. grew its holdings in shares of Hormel Foods by 4.1% during the second quarter. Shell Asset Management Co. now owns 40,249 shares of the company’s stock valued at $1,373,000 after buying an additional 1,582 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of Hormel Foods by 26.4% during the second quarter. Strs Ohio now owns 38,858 shares of the company’s stock valued at $1,325,000 after buying an additional 8,112 shares during the last quarter. Institutional investors and hedge funds own 38.33% of the company’s stock.
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