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.
Shares of Hormel Foods Corporation rose by 5.81% in the last five trading days and 6.3% for the last 4 weeks. Hormel Foods Corporation has dropped 16.34% during the last 3-month period . Year-to-Date the stock performance stands at -6.75%. Also, Jefferies maintains its rating on Hormel Foods Corporation (NYSE:HRL). The global brokerage major lowers the current price target from $43 per share to $40 per share. Analysts at the Jefferies have a current rating of Hold on the shares. The rating by the firm was issued on May 19, 2016.
Hormel Foods Corporation (NYSE:HRL) : 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Hormel Foods Corporation (NYSE:HRL). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 5 Wall Street Analysts endorse the stock as a Sell with a rating of 3.6.
Hormel Foods Corporation (NYSE:HRL): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $35.33 and $35.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $36.64. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.60, notching a gain of 3.62% for the day. The total traded volume was 4,685,978 . The stock had closed at $35.32 on the previous day.
In an insider trading activity, The Securities and Exchange Commission has divulged that Pippins Dakota A, director of Hormel Foods Corp /De/, had unloaded 2,269 shares at an average price of $42.98 in a transaction dated on April 7, 2016. The total value of the transaction was worth $97,522.
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.