Oppenheimer analyst Rupesh Parikh assigned a Hold rating to Hormel Foods (HRL) today. The company’s shares closed last Thursday at $47.96.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.5% and a 66.9% success rate. Parikh covers the Consumer Goods sector, focusing on stocks such as Bj’s Wholesale Club Holdings, The Estée Lauder Companies, and United Natural Foods.
Hormel Foods has an analyst consensus of Moderate Sell, with a price target consensus of $44.00.
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Based on Hormel Foods’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $2.42 billion and net profit of $234 million. In comparison, last year the company earned revenue of $2.5 billion and had a net profit of $256 million.
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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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