Hormel Foods (NYSE:HRL) Raised to “Strong-Buy” at Barclays

Hormel Foods (NYSE:HRL) was upgraded by investment analysts at Barclays from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

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

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $30.90 on Wednesday. The company has a market capitalization of $16.96 billion, a PE ratio of 21.16, a P/E/G ratio of 2.89 and a beta of 0.26. The company has a 50-day simple moving average of $31.28 and a two-hundred day simple moving average of $31.46. Hormel Foods has a one year low of $28.51 and a one year high of $36.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods (NYSE:HRL) last posted 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). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $0.42 EPS. The company’s revenue was down 1.9% on a year-over-year basis. Research analysts expect that Hormel Foods will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken bought 4,904 shares of Hormel Foods stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the completion of the acquisition, the vice president now directly owns 7,100 shares in the company, valued at approximately $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 this link. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Hormel Foods

A number of institutional investors have recently modified their holdings of the stock. Crews Bank & Trust acquired a new stake in Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in shares of Hormel Foods during the 3rd quarter worth approximately $32,000. Prospera Private Wealth LLC acquired a new stake in shares of Hormel Foods during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC lifted its stake in shares of Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after purchasing an additional 1,132 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in Hormel Foods during the third quarter worth $47,000. 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.