Credit Suisse Maintains Hormel Foods Corp to Outperform

Brokerage firm Credit Suisse Maintains its rating on Hormel Foods Corp(NYSE:HRL). The shares have been rated Outperform. The rating by Credit Suisse was issued on Sep 27, 2016.

In a different note, Oppenheimer said it Initiates Coverage on Hormel Foods Corp, according to a research note issued on Sep 16, 2016. The shares have been rated ‘Perform’ by the firm. On Sep 16, 2016, Edward Jones said it Upgrades its rating on Hormel Foods Corp. The shares have been rated ‘Buy’ by the firm. On Aug 24, 2016, Edward Jones said it Upgrades its rating on Hormel Foods Corp. The shares have been rated ‘Buy’ by the firm. On Aug 22, 2016, Credit Suisse said it Upgrades its rating on Hormel Foods Corp. In the research note, the firm Raises the price-target to $38.00 per share. The shares have been rated ‘Outperform’ by the firm. On Aug 19, 2016, BMO Capital said it Upgrades its rating on Hormel Foods Corp. The shares have been rated ‘Outperform’ by the firm. 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 Fridays trading session with the shares advancing 0.13% or 0.05 points. Due to strong positive momentum, the stock ended at $37.93, which is also near the day’s high of $38.25. The stock began the session at $37.98 and the volume stood at 25,99,153 shares. The 52-week high of the shares is $45.72 and the 52 week low is $30.995. The company has a current market capitalization of $20,073 M and it has 52,92,00,860 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 Sep 8, 2016, Deanna T Brady (Group Vice President) sold 400 shares at $38.06 per share price.Also, On Sep 1, 2016, Donald H Kremin (Group Vice President) sold 80,400 shares at $37.86 per share price.On Aug 31, 2016, Larry L Vorpahl (Group Vice President) sold 400 shares at $37.88 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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