BMO Capital Upgrades Hormel Foods Corp to Outperform

Brokerage firm BMO Capital Upgrades its rating on Hormel Foods Corp(NYSE:HRL). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by BMO Capital was issued on Aug 19, 2016.

In a different note, On Jul 27, 2016, Jefferies said it Maintains its rating on Hormel Foods Corp. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Hold’ by the firm.

Hormel Foods Corp (HRL) made into the market gainers list on Mondays trading session with the shares advancing 1.27% or 0.48 points. Due to strong positive momentum, the stock ended at $38.4, which is also near the day’s high of $38.44. The stock began the session at $38 and the volume stood at 25,29,949 shares. The 52-week high of the shares is $45.72 and the 52 week low is $29.375. The company has a current market capitalization of $20,347 M and it has 52,98,60,470 shares in outstanding.

Hormel Foods Corp(HRL) last announced its earnings results on Aug 18, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $2.30B. Analysts had an estimated revenue of $2.26B. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, Dakota A Pippins (director) sold 5,000 shares at $36.74 per share price.Also, 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.

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