Hormel Foods (NYSE:HRL) Upgraded at Bank of America

Hormel Foods (NYSE:HRL) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $35.00 target price on the stock. Bank of America‘s price target would indicate a potential upside of 14.57% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Stephens reissued an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $30.55 on Tuesday. Hormel Foods has a 52 week low of $27.59 and a 52 week high of $36.86. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.80 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.73 and a beta of 0.31. The business’s 50 day moving average price is $29.50 and its 200 day moving average price is $30.53.

Insider Transactions at Hormel Foods

In related news, Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $30.40, for a total value of $136,800.00. Following the completion of the sale, the director now owns 95,488 shares of the company’s stock, valued at approximately $2,902,835.20. The trade was a 4.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Hormel Foods

A number of institutional investors and hedge funds have recently modified their holdings of HRL. Crews Bank & Trust acquired a new stake in Hormel Foods in the 4th quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in shares of Hormel Foods in the fourth quarter worth approximately $44,000. Capital Advisors Ltd. LLC increased its position in shares of Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares in the last quarter. Lindbrook Capital LLC raised its stake in Hormel Foods by 91.8% in the 4th quarter. Lindbrook Capital LLC now owns 1,523 shares of the company’s stock valued at $48,000 after purchasing an additional 729 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Hormel Foods in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.