Hormel Foods (HRL) Gets a Hold Rating from Oppenheimer


In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Hormel Foods (HRL). The company’s shares closed last Thursday at $45.86.

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 14.2% and a 60.7% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Church & Dwight.

Hormel Foods has an analyst consensus of Hold, with a price target consensus of $43.80, which is a -8.5% downside from current levels. In a report issued on May 19, Credit Suisse also maintained a Hold rating on the stock with a $45.00 price target.

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Based on Hormel Foods’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $2.38 billion and net profit of $243 million. In comparison, last year the company earned revenue of $2.36 billion and had a net profit of $241 million.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HRL in relation to earlier this year. Last month, Thomas Day, the EVP of HRL sold 13,787 shares for a total of $668,670.

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 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. The Refrigerated Foods segment involves in the processing, marketing, and sale of branded and unbranded pork, beef, and poultry products for retail, foodservice, deli, and commercial customers. The Jennie-O Turkey Store segment includes processing, marketing, and sale of branded and unbranded turkey products for retail, foodservice, and fresh product customers. The International and Other segment comprises Hormel Foods International which manufactures, markets, and sells Company products internationally. The company was founded by George A. Hormel in 1891 and is headquartered in Austin, MN.

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