Credit Suisse analyst Robert Moskow maintained a Hold rating on Hormel Foods (HRL) yesterday and set a price target of $39. The company’s shares closed yesterday at $41.99.
According to TipRanks.com, Moskow is a 3-star analyst with an average return of 2.3% and a 53.0% success rate. Moskow covers the Consumer Goods sector, focusing on stocks such as Archer Daniels Midland, Mondelez International, and McCormick & Company.
Currently, the analyst consensus on Hormel Foods is a Hold with an average price target of $41.50, implying a -1.2% downside from current levels. In a report released yesterday, Oppenheimer also assigned a Hold rating to the stock.
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Based on Hormel Foods’ latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $261 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.
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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.
