In a report released today, Rupesh Parikh from Oppenheimer assigned a Hold rating to Hormel Foods (HRL). The company’s shares closed last Wednesday at $45.97.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 12.4% and a 65.4% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and Albertsons Companies.
Hormel Foods has an analyst consensus of Moderate Buy, with a price target consensus of $44.00.
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Based on Hormel Foods’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $2.46 billion and net profit of $222 million. In comparison, last year the company earned revenue of $2.38 billion and had a net profit of $243 million.
Based on the recent corporate insider activity of 44 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. Most recently, in March 2021, Glenn Leitch, the EVP of HRL sold 87,000 shares for a total of $4,143,810.
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.
Founded in 1891, Hormel Foods Corp. is a Minnesota-based food company, which produces and markets various meat and food products to retail, food service, deli, and commercial customers. It operates through the following four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.