In a report released today, Michael Lavery from Piper Sandler maintained a Hold rating on Hormel Foods (HRL – Research Report), with a price target of $33.00. The company’s shares closed yesterday at $31.77.
According to TipRanks, Lavery is a 4-star analyst with an average return of 6.5% and a 53.80% success rate. Lavery covers the Consumer Defensive sector, focusing on stocks such as Campbell Soup, Hormel Foods, and Post Holdings.
Currently, the analyst consensus on Hormel Foods is a Moderate Sell with an average price target of $30.80.
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Based on Hormel Foods’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $3.2 billion and a net profit of $195.94 million. In comparison, last year the company earned a revenue of $3.28 billion and had a net profit of $279.92 million
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HRL in relation to earlier this year. Most recently, in October 2023, Kevin Myers, the SVP of HRL sold 5,200.00 shares for a total of $160,836.00.
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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.
Read More on HRL:
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