Hormel Foods (NYSE:HRL) Stock Price Expected to Rise, Barclays Analyst Says

Hormel Foods (NYSE:HRL) had its target price boosted by analysts at Barclays from $35.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 18.63% from the company’s current price.

HRL has been the topic of several other research reports. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price objective on the stock. BNP Paribas began coverage on shares of Hormel Foods in a report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Finally, Citigroup cut their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus price target of $31.17.

Hormel Foods Trading Down 1.7 %

NYSE:HRL opened at $30.35 on Tuesday. Hormel Foods has a 12 month low of $28.51 and a 12 month high of $36.86. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.80 and a beta of 0.26. The firm has a fifty day simple moving average of $31.28 and a two-hundred day simple moving average of $31.47.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts expect that Hormel Foods will post 1.67 EPS for the current fiscal year.

Insider Transactions at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken bought 4,904 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, with a total value of $159,232.88. Following the transaction, the vice president now directly owns 7,100 shares in the company, valued at $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Hormel Foods

A number of large investors have recently added to or reduced their stakes in HRL. Empower Advisory Group LLC grew its position in shares of Hormel Foods by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock valued at $306,000 after acquiring an additional 342 shares during the period. CFS Investment Advisory Services LLC lifted its stake in Hormel Foods by 2.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after purchasing an additional 360 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Hormel Foods by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock valued at $959,000 after purchasing an additional 384 shares during the period. New Century Financial Group LLC increased its position in Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after buying an additional 392 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Hormel Foods by 4.8% in the third quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after buying an additional 416 shares during the period. Hedge funds and other 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.