Hormel Foods (NYSE:HRL) Coverage Initiated at BNP Paribas

Research analysts at BNP Paribas assumed coverage on shares of Hormel Foods (NYSE:HRL) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “underperform” rating and a $28.00 price target on the stock. BNP Paribas’ price objective points to a potential downside of 9.94% from the company’s current price.

A number of other research firms also recently issued reports on HRL. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. Stephens initiated coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.57.

Hormel Foods Stock Down 0.7 %

Shares of NYSE:HRL opened at $31.09 on Monday. Hormel Foods has a 52 week low of $28.51 and a 52 week high of $36.86. The company has a market capitalization of $17.05 billion, a PE ratio of 22.21, a PEG ratio of 3.06 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The company has a 50 day moving average price of $31.83 and a two-hundred day moving average price of $32.43.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts forecast that Hormel Foods will post 1.58 earnings per share for the current year.

Insider Buying and Selling at Hormel Foods

In related news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kevin L. Myers sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares in the company, valued at approximately $1,276,935. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the transaction, the executive vice president now owns 72,421 shares in the company, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $2,288,338 in the last quarter. 0.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hormel Foods

Several institutional investors and hedge funds have recently bought and sold shares of HRL. EverSource Wealth Advisors LLC raised its stake in Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 647 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at about $34,000. Central Valley Advisors LLC acquired a new position in Hormel Foods in the second quarter valued at approximately $37,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Hormel Foods by 774.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock worth $42,000 after buying an additional 1,077 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Hormel Foods during the 1st quarter valued at $42,000. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.