November 23, 2016 - By Marguerite Chambers
Hormel Foods (NYSE:HRL) had its stock rating noted as “Outperform” by analysts at BMO Capital. BMO Capital currently has a $45.00 target price per share on the $19.15B market cap company or 27.66% upside potential. This was shown in a research report on Wednesday morning.
Out of 10 analysts covering Hormel Foods Corporation (NYSE:HRL), 4 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 40% are positive. $80 is the highest target while $38 is the lowest. The $61.38 average target is 74.13% above today’s ($35.25) stock price. Hormel Foods Corporation has been the topic of 20 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Edward Jones upgraded the stock to “Buy” rating in Wednesday, August 24 report. Credit Suisse maintained it with “Neutral” rating and $72 target price in Wednesday, November 25 report. Deutsche Bank downgraded the stock to “Hold” rating in Monday, December 14 report. The stock of Hormel Foods Corp (NYSE:HRL) has “Outperform” rating given on Friday, August 19 by BMO Capital Markets. Stephens upgraded the stock to “Overweight” rating in Wednesday, November 25 report. The firm has “Underperform” rating by CLSA given on Thursday, February 18. As per Monday, August 22, the company rating was upgraded by Credit Suisse. Jefferies initiated the stock with “Buy” rating in Wednesday, December 16 report. On Friday, September 16 the stock rating was initiated by Oppenheimer with “Perform”. The stock has “Hold” rating given by BB&T Capital on Wednesday, September 9.
About 2.42M shares traded hands. Hormel Foods Corp (NYSE:HRL) has declined 5.23% since April 21, 2016 and is downtrending. It has underperformed by 10.56% the S&P500.
Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.04, from 1.15 in 2016Q1. The ratio turned negative, as 66 funds sold all Hormel Foods Corp shares owned while 141 reduced positions. 58 funds bought stakes while 180 increased positions. They now own 173.55 million shares or 50.49% less from 350.56 million shares in 2016Q1.
Renaissance Technologies Ltd Liability Co holds 0.06% of its portfolio in Hormel Foods Corp (NYSE:HRL) for 819,300 shares. Suntrust Banks accumulated 0% or 6,490 shares. Amg Natl Tru National Bank holds 435,856 shares or 1.42% of its portfolio. Fmr Llc accumulated 0% or 226,020 shares. Millennium Mngmt Ltd Company last reported 0.13% of its portfolio in the stock. Daiwa Securities owns 47,000 shares or 0.01% of their US portfolio. Fuller & Thaler Asset Management has 0% invested in the company for 3,400 shares. Principal Financial Gp accumulated 0.02% or 417,316 shares. Telemus Capital Ltd Liability Corporation last reported 0.1% of its portfolio in the stock. Lombard Odier Asset (Europe) Limited has invested 0.01% of its portfolio in Hormel Foods Corp (NYSE:HRL). Cornerstone Cap Mngmt Limited Liability Corp has 0.11% invested in the company for 377,271 shares. Moreover, Hexavest Inc has 0% invested in Hormel Foods Corp (NYSE:HRL) for 6,634 shares. Copeland Limited Liability Corp holds 0.74% or 292,610 shares in its portfolio. Us Bancshares De last reported 0.08% of its portfolio in the stock. Sumitomo Mitsui Asset Co last reported 0.03% of its portfolio in the stock.
Insider Transactions: Since June 3, 2016, the stock had 0 insider buys, and 7 selling transactions for $3.86 million net activity. The insider Johnson Brian Dean sold $133,000. On Wednesday, September 28 the insider Leitch Glenn R sold $15,348. $15,152 worth of shares were sold by VORPAHL LARRY L on Monday, August 29. The insider Brady Deanna T sold $15,224. 80,400 shares with value of $3.04M were sold by Kremin Donald H on Tuesday, August 30. 5,000 Hormel Foods Corp (NYSE:HRL) shares with value of $183,700 were sold by PIPPINS DAKOTA A. 12,000 Hormel Foods Corp (NYSE:HRL) shares with value of $455,743 were sold by BINDER STEVEN G.
Hormel Foods Corporation is a multinational maker and marketer of food and meat products. The company has a market cap of $19.15 billion.
According to Zacks Investment Research, “Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Products manufactured by the corporation include hams, bacon, sausages, franks, canned luncheon meats, stews, chilies, hash, meat spreads, shelf-stable microwaveable entrees, salsas and frozen processed foods. These selections are sold to retail, foodservice and wholesale operations under many well-established trademarks some include BLACK LABEL, CHI-CHI’S, DINTY MOORE, & HORMEL.”
Hormel Foods Corporation, incorporated on September 20, 1928, is engaged in the production of a range of meat and food products and the marketing of those products throughout the United States and internationally. The Firm operates through five divisions: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (JOTS), Specialty Foods, and International & Other. The Company’s products consist of meat and other food products. The meat products are sold fresh, frozen, cured, smoked, cooked and canned. Internationally, the Company markets its products through its subsidiary, Hormel Foods International Corporation (HFIC). The Firm offers its products under perishable, poultry, shelf-stable and miscellaneous categories. The Perishable category includes fresh meats, frozen items, refrigerated meal solutions, sausages, hams, wieners, guacamole and bacon. The Poultry category is composed of JOTS products. The Shelf-stable category includes canned luncheon meats, shelf-stable microwaveable meals, stews, chilies, hash, meat spreads, flour and corn tortillas, salsas, tortilla chips, peanut butter and other items that do not require refrigeration. The Miscellaneous category consists of nutritional food products and supplements, sugar and sugar substitutes, dessert and drink mixes, and industrial gelatin products.
More important recent Hormel Foods Corp (NYSE:HRL) news were published by: Businesswire.com which released: “Hormel Foods Corporation Announces the Sale of Farmer John, Saag’s Specialty …” on November 21, 2016, also Marketwatch.com published article titled: “Hormel Foods increases dividend by 17%”, Startribune.com published: “Hormel joins cancer specialists to develop line of ready-made foods for chemo …” on November 20, 2016. More interesting news about Hormel Foods Corp (NYSE:HRL) was released by: Forbes.com and their article: “Hormel Foods Becomes Oversold (HRL)” with publication date: November 10, 2016.
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