Piper Sandler analyst Michael Lavery maintained a Hold rating on Hormel Foods (HRL – Research Report) today and set a price target of $31.00. The company’s shares closed yesterday at $30.47.
According to TipRanks, Lavery is a 4-star analyst with an average return of 5.2% and a 51.44% success rate. Lavery covers the Consumer Defensive sector, focusing on stocks such as General Mills, Post Holdings, and Hormel Foods.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Hormel Foods with a $30.40 average price target.
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Based on Hormel Foods’ latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $2.96 billion and a net profit of $162.68 million. In comparison, last year the company earned a revenue of $3.03 billion and had a net profit of $218.92 million
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HRL in relation to earlier this year. Last month, Kevin Myers, the SVP of HRL sold 5,200.00 shares for a total of $160,836.00.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Hormel Foods (HRL) Company Description:
Founded in 1891, Hormel Foods Corp. is a Minnesota-based food company, which produces and markets various meat and food products to retail, food service, deli, and commercial customers. It operates through the following four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.
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