Stephens Reconfirmed Hormel Foods Corporation (NYSE:HRL) As a “Overweight”; They Now Have a Target Of $50.00

June 19, 2017 - By Migdalia James

 Stephens Reconfirmed Hormel Foods Corporation (NYSE:HRL) As a

Investors sentiment decreased to 0.94 in 2016 Q4. Its down 0.17, from 1.11 in 2016Q3. It worsened, as 52 investors sold Hormel Foods Corp shares while 174 reduced holdings. 62 funds opened positions while 151 raised stakes. 171.58 million shares or 0.31% more from 171.05 million shares in 2016Q3 were reported.

First Manhattan invested 0% in Hormel Foods Corp (NYSE:HRL). Moreover, Qci Asset Management has 0% invested in Hormel Foods Corp (NYSE:HRL). Burney accumulated 0.03% or 10,912 shares. Meiji Yasuda Asset Co Ltd invested 0.06% in Hormel Foods Corp (NYSE:HRL). Utah Retirement stated it has 0.04% in Hormel Foods Corp (NYSE:HRL). Moreover, Riverbridge Ltd Liability Corp has 0% invested in Hormel Foods Corp (NYSE:HRL) for 6,857 shares. Wells Fargo And Mn holds 0.02% or 1.56 million shares. Alliancebernstein L P owns 520,222 shares. Kingfisher Capital Lc stated it has 0.69% in Hormel Foods Corp (NYSE:HRL). Telemus Cap Limited Co, a Michigan-based fund reported 12,990 shares. Credit Agricole S A stated it has 1.07 million shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh invested in 178,373 shares. Evercore Wealth Mngmt Limited Liability Corp invested 0% of its portfolio in Hormel Foods Corp (NYSE:HRL). Invesco Ltd has invested 0.02% in Hormel Foods Corp (NYSE:HRL). Bryn Mawr Trust stated it has 0.25% in Hormel Foods Corp (NYSE:HRL).

Since December 27, 2016, it had 0 insider buys, and 9 insider sales for $3.75 million activity. 35,785 shares were sold by SPLINTER JAMES M, worth $1.23M. Shares for $965,451 were sold by Kremin Donald H on Thursday, March 30. Murano Elsa A sold 7,500 shares worth $258,750. $666,716 worth of Hormel Foods Corp (NYSE:HRL) shares were sold by NAKASONE ROBERT. The insider PIPPINS DAKOTA A sold 2,000 shares worth $70,450. 1,300 Hormel Foods Corp (NYSE:HRL) shares with value of $45,258 were sold by Marconi Luis G. DAY THOMAS R sold 11,650 shares worth $399,066.

Hormel Foods Corporation (NYSE:HRL) Rating Reaffirmed

Hormel Foods Corporation (NYSE:HRL) just had their share rating of a ‘”Overweight”‘ issued by research analysts at Stephens, who now has a $50.00 price target on the $17.55B market cap company or a 47.28 % upside potential. This key information was disclosed in a research report on 16 June.

Investors sentiment decreased to 0.94 in 2016 Q4. Its down 0.17, from 1.11 in 2016Q3. It worsened, as 52 investors sold Hormel Foods Corp shares while 174 reduced holdings. 62 funds opened positions while 151 raised stakes. 171.58 million shares or 0.31% more from 171.05 million shares in 2016Q3 were reported.

First Manhattan invested 0% in Hormel Foods Corp (NYSE:HRL). Moreover, Qci Asset Management has 0% invested in Hormel Foods Corp (NYSE:HRL). Burney accumulated 0.03% or 10,912 shares. Meiji Yasuda Asset Co Ltd invested 0.06% in Hormel Foods Corp (NYSE:HRL). Utah Retirement stated it has 0.04% in Hormel Foods Corp (NYSE:HRL). Moreover, Riverbridge Ltd Liability Corp has 0% invested in Hormel Foods Corp (NYSE:HRL) for 6,857 shares. Wells Fargo And Mn holds 0.02% or 1.56 million shares. Alliancebernstein L P owns 520,222 shares. Kingfisher Capital Lc stated it has 0.69% in Hormel Foods Corp (NYSE:HRL). Telemus Cap Limited Co, a Michigan-based fund reported 12,990 shares. Credit Agricole S A stated it has 1.07 million shares. Meag Munich Ergo Kapitalanlagegesellschaft Mbh invested in 178,373 shares. Evercore Wealth Mngmt Limited Liability Corp invested 0% of its portfolio in Hormel Foods Corp (NYSE:HRL). Invesco Ltd has invested 0.02% in Hormel Foods Corp (NYSE:HRL). Bryn Mawr Trust stated it has 0.25% in Hormel Foods Corp (NYSE:HRL).

Since December 27, 2016, it had 0 insider buys, and 9 insider sales for $3.75 million activity. 35,785 shares were sold by SPLINTER JAMES M, worth $1.23M. Shares for $965,451 were sold by Kremin Donald H on Thursday, March 30. Murano Elsa A sold 7,500 shares worth $258,750. $666,716 worth of Hormel Foods Corp (NYSE:HRL) shares were sold by NAKASONE ROBERT. The insider PIPPINS DAKOTA A sold 2,000 shares worth $70,450. 1,300 Hormel Foods Corp (NYSE:HRL) shares with value of $45,258 were sold by Marconi Luis G. DAY THOMAS R sold 11,650 shares worth $399,066.

Hormel Foods Corp (NYSE:HRL) Ratings Coverage

Among 14 analysts covering Hormel Foods Corporation (NYSE:HRL), 6 have Buy rating, 2 Sell and 6 Hold. Therefore 43% are positive. Hormel Foods Corporation has $80 highest and $35 lowest target. $48.30’s average target is 42.73% above currents $33.84 stock price. Hormel Foods Corporation had 29 analyst reports since July 27, 2015 according to SRatingsIntel. BB&T Capital downgraded the shares of HRL in report on Tuesday, April 5 to “Underweight” rating. The stock of Hormel Foods Corp (NYSE:HRL) has “Neutral” rating given on Wednesday, November 25 by Credit Suisse. Jefferies initiated Hormel Foods Corp (NYSE:HRL) on Wednesday, December 16 with “Buy” rating. BMO Capital Markets maintained the shares of HRL in report on Wednesday, November 23 with “Outperform” rating. On Monday, December 14 the stock rating was downgraded by Deutsche Bank to “Hold”. Zacks upgraded it to “Hold” rating and $66 target in Tuesday, August 25 report. On Friday, December 2 the stock rating was initiated by KeyBanc Capital Markets with “Sector Weight”. The firm has “Buy” rating given on Friday, September 16 by Edward Jones. The stock has “Overweight” rating by Piper Jaffray on Monday, January 9. The firm earned “Equal Weight” rating on Thursday, September 17 by Stephens.

About 60,774 shares traded. Hormel Foods Corp (NYSE:HRL) has declined 1.53% since June 19, 2016 and is downtrending. It has underperformed by 18.23% the S&P500.

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The company has market cap of $17.55 billion.

More notable recent Hormel Foods Corp (NYSE:HRL) news were published by: Nasdaq.com which released: “Earnings Reaction History: Hormel Foods Corp., 55.6% Follow-Through Indicator …” on May 25, 2017, also Prnewswire.com with their article: “Hormel Foods Corporation Declares Quarterly Dividend” published on May 22, 2017, Seekingalpha.com published: “Hormel Foods (HRL): A Beaten-Down Dividend King That’s Worth A Closer Look” on June 15, 2017. More interesting news about Hormel Foods Corp (NYSE:HRL) were released by: Prnewswire.com and their article: “Hormel Foods Highlights Long-Term Growth Plans and Reaffirms Guidance at its …” published on June 19, 2017 as well as Seekingalpha.com‘s news article titled: “Hormel Foods Corporation: I Have Added This Dividend King To My FFJ Portfolio” with publication date: June 19, 2017.

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