In a report released yesterday, Benjamin Theurer from Barclays maintained a Hold rating on Hormel Foods (HRL), with a price target of $40. The company’s shares closed yesterday at $43.49.
According to TipRanks.com, Theurer is a 3-star analyst with an average return of 2.6% and a 45.7% success rate. Theurer covers the Consumer Goods sector, focusing on stocks such as Kimberly-Clark de Mexico SAB de CV, Fomento Economico Mexicano, and Coca Cola Femsa SAB De CV.
The word on The Street in general, suggests a Hold analyst consensus rating for Hormel Foods with a $41.25 average price target, a -5.2% downside from current levels. In a report issued on March 4, Stephens also initiated coverage with a Hold rating on the stock with a $42 price target.
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Based on Hormel Foods’ latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $241 million. In comparison, last year the company had a net profit of $303 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2018, James Sheehan, the Senior V.P. & CFO of HRL sold 60,000 shares for a total of $2,695,200.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Hormel Foods Corp. engages in the production of meat and food products. It operates business through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.
