Hormel Foods (NYSE:HRL) Receives a Downgrade
Shares of Hormel Foods (NYSE:HRL) were lowered to a Hold rating by research analysts at Deutsche Bank. They now have a target price per share of $76.0 on HRL. The past rating by Deutsche Bank was a Buy and will no longer be valid.
From a total of 7 analysts covering Hormel Foods Corporation (NYSE:HRL) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $80 while the lowest target price is $69. The mean of all analyst targets is $73.71 with a -10.93% below today’s ($77.66) stock price. Hormel Foods Corporation was the topic of 10 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on November 25 with “Neutral” rating. Buckingham Research initiated HRL stock in a recent report from October 19 with “Neutral” rating. Finally, Zacks upgraded the stock to “Hold” rating in a report issued on an August 25.
Approximately 587,866 shares of stock traded hands. Hormel Foods Corp (NYSE:HRL) has risen 38.78% since May 11, 2015 and is uptrending. It has outperformed by 43.20% the S&P500.
The overall sentiment of institutions has increased to 1.35 in Q2 2015. Its up 0.35, from 1 in 2015Q2. The ratio increased, as 36 institutions have sold all the shares of Hormel Foods Corp that they owned while 128 funds have taken shares off the table. 51 funds have purchased shares for the first time while 170 added to their positions. These institutions now hold 95.63 million shares or 16.22% more than the 82.29 million shares they owned in 2015Q2.
The Fund Eclectica Asset Management Llp currently is holding shares equating to 10.69% of its total portfolio in Hormel Foods Corp representing a total of 28,960 shares. Another fund,Raub Brock Capital Management Lp, is holding a total of 249,879 shares equating to 5.34% of their holdings. Additionally, Grandfield & Dodd Llc has a 406,596 share stake in Hormel Foods Corp which represents 4.32% of their total portfolio. The Fund, Corecommodity Management Llc, based out of Connecticut, has also built up a stake in the stock, which represents a total of 4.27% of their total portfolio. Finally Mark Sheptoff Financial Planning Llc, a fund which is based in the state of Connecticut reported a total holdings of 74,350 shares.
Insider activity is a very important aspect to track on any stock. Going back to June 1, 2015, shareholders of Hormel Foods Corp have witnessed 0 insider purchases, and a total of 8 selling transactions equating to a net activity of approximately $5.59 million . Binder Steven G sold 10,000 shares worth approximately $648,490. Lyons Lawrence C sold 200 shares worth approximately $12,276. Ettinger Jeffrey M sold 3,736 shares worth approximately $225,669. Murano Elsa A sold 2,262 shares worth approximately $130,110. The company insider Gentzler Roland G sold 7,389 shares worth $426,345.
Hormel Foods Corporation is a multinational maker and marketer of food and meat products. The company has a market cap of $20.54 billion.
According to Zacks Investment Research, “Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Products manufactured by the corporation include hams, bacon, sausages, franks, canned luncheon meats, stews, chilies, hash, meat spreads, shelf-stable microwaveable entrees, salsas and frozen processed foods. These selections are sold to retail, foodservice and wholesale operations under many well-established trademarks some include BLACK LABEL, CHI-CHI’S, DINTY MOORE, & HORMEL.”