CLSA Assumes Hormel Foods Corp to Underperform

Brokerage firm CLSA Assumes its rating on Hormel Foods Corp(NYSE:HRL). The shares have been rated Underperform. The rating by CLSA was issued on Apr 12, 2016.

In a different note, On Feb 18, 2016, CLSA said it Downgrades its rating on Hormel Foods Corp. The shares have been rated ‘Underperform’ by the firm. On Feb 17, 2016, Jefferies said it Downgrades its rating on Hormel Foods Corp. The shares have been rated ‘Hold’ by the firm. On Feb 17, 2016, Deutsche Bank said it Maintains its rating on Hormel Foods Corp. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Hold’ by the firm.

Hormel Foods Corp (HRL) made into the market gainers list on Fridays trading session with the shares advancing 0.54% or 0.21 points. Due to strong positive momentum, the stock ended at $39.46, which is also near the day’s high of $39.61. The stock began the session at $39.26 and the volume stood at 35,44,188 shares. The 52-week high of the shares is $45.72 and the 52 week low is $27.075. The company has a current market capitalization of $20,911 M and it has 52,99,17,510 shares in outstanding.

Hormel Foods Corp(HRL) last announced its earnings results on Feb 16, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.29B. Analysts had an estimated revenue of $2.40B. Earnings per share were $0.43. Analysts had estimated an EPS of $0.37.

Several Insider Transactions has been reported to the SEC. On Apr 7, 2016, Dakota A Pippins (director) sold 2,269 shares at $42.98 per share price.Also, On Apr 6, 2016, Elsa A Murano (director) sold 6,001 shares at $42.55 per share price.On Mar 18, 2016, Thomas R Day (Group Vice President) sold 10,000 shares at $44.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products. The Company has five segments: Grocery Products which consists of the processing marketing and sale of shelf-stable food products sold primarily in the retail market; Refrigerated Foods which consists of the processing marketing and sale of branded and unbranded pork and beef products for retail foodservice and fresh product customers; Jennie-O Turkey Store which consists of the processing marketing and sale of branded and unbranded turkey products for retail foodservice and fresh product customers; Specialty Foods which consists of the packaging and sale of private label shelf stable products nutritional products sugar and condiments to industrial retail and foodservice customers and International & Other which includes the Hormel Foods International operating segment which manufactures markets and sells the Company products internationally.

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