Hormel Foods Corp (HRL) was Upgraded by Credit Suisse to ” Outperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Aug 22, 2016.
On the company’s financial health, Hormel Foods Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.35. The company had revenue of $2302.38 million for the quarter, compared to analysts expectations of $2260.70 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.
Hormel Foods Corp opened for trading at $37.25 and hit $38.7 on the upside on Friday, eventually ending the session at $38.66, with a gain of 4.37% or 1.62 points. The heightened volatility saw the trading volume jump to 50,60,343 shares. Company has a market cap of $20,484 M.
In a different news, on Jul 1, 2016, Dakota A Pippins (director) sold 5,000 shares at $36.74 per share price. According to the SEC, on Jun 29, 2016, Steven G Binder (Executive Vice President) sold 400 shares at $34.98 per share price. On Apr 6, 2016, Elsa A Murano (director) sold 6,001 shares at $42.55 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.