Hormel Foods Corporation (HRL): Price Target and June Short Interest Disclosure

Hormel Foods Corporation (HRL) : Currently there are 6 street experts covering Hormel Foods Corporation (HRL) stock. The most bullish and bearish price target for the stock is $39 and $26 respectively for the short term. The average price target of all the analysts comes to $34. The estimated standard deviation from the target is $4.97.

Hormel Foods Corporation (HRL) has seen a rise of 948,672 shares or 3.6% in the short interest. The remaining shorts are 10% of the total floated shares. The net short interest, as on June 30,2016, stood at 27,111,644 shares and the stocks days to cover will be 8 by factoring in the average per day volume of 3,442,721 shares. On June 15,2016, 26,162,972 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Brokerage firm Jefferies maintains its rating on Hormel Foods Corporation (NYSE:HRL). As per the latest information, the brokerage house lowers the price target to $40 per share from a prior target of $43. The shares have been rated Hold. The rating by the firm was issued on May 19, 2016.

Hormel

Hormel Foods Corporation (NYSE:HRL): stock turned positive on Thursday. Though the stock opened at $36.33, the bulls momentum made the stock top out at $36.74 level for the day. The stock recorded a low of $36.29 and closed the trading day at $36.71, in the green by 0.81%. The total traded volume for the day was 2,587,022. The stock had closed at $36.415 in the previous days trading.

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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