Price Target Update on Hormel Foods Corporation (NYSE:HRL)

Hormel Foods Corporation (NYSE:HRL) stock is expected to deviate a maximum of $4.97 from the average target price of $34 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $39 and the most muted being $26.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Jefferies maintains its rating on Hormel Foods Corporation (NYSE:HRL).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Jefferies lowers the new price target from $43 per share to $40 per share. The rating by the firm was issued on May 19, 2016.

Hormel Foods Corporation (NYSE:HRL): stock turned positive on Thursday. Though the stock opened at $34.91, the bulls momentum made the stock top out at $34.96 level for the day. The stock recorded a low of $34.43 and closed the trading day at $34.59, in the green by 0.06%. The total traded volume for the day was 2,048,168. The stock had closed at $34.57 in the previous days trading.

The company shares have rallied 19.27% from its 1 Year high price. On Feb 16, 2016, the shares registered one year high at $45.72 and the one year low was seen on Jul 7, 2015. The 50-Day Moving Average price is $36.04 and the 200 Day Moving Average price is recorded at $39.65. On the companys insider trading activities, Pippins Dakota A, director of Hormel Foods Corp /De/, unloaded 2,269 shares at an average price of $42.98 on April 7, 2016. The total amount of the transaction was worth $97,522, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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