Hormel Foods Receives a Hold from OppenheimerBy Jason Carr
According to TipRanks.com, Parikh is a top 100 analyst with an average return of 17.3% and a 63.4% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Life Time Fitness, and Natural Grocers.
Hormel Foods has an analyst consensus of Moderate Buy, with a price target consensus of $38.
Based on Hormel Foods’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $2.3 billion and quarterly net profit of $196 million. In comparison, last year the company earned revenue of $2.4 billion and had a net profit of $187 million.
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Elsa Murano, a Director at HRL bought 6,800 shares for a total of $60,724.
Hormel Foods Corp. engages in the production of meat and food products. It operates business through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market. The Refrigerated Foods segment involves in the processing, marketing, and sale of branded and unbranded pork and beef products for retail, foodservice and fresh product customers. The Jennie-O Turkey Store segment include fresh ground turkey, rotisserie deli turkey products, nacho platters, turkey bacon, turkey burgers and other turkey products to consumers and foodservice operators. The Specialty Foods segment includes Omega-3 fish oils, stocks and broths, pasteurized processed cheeses and imitation blends, milk and whey proteins, dry milk powders, caseinates and isolates, meat ingredients, gelatin desserts, puddings, drinks, seasoning oils, sauces, and specialty fats. The International & Other segment includes the Hormel Foods International operating segment, which manufactures, markets, and sells company products internationally. The company was founded by George A. Hormel in 1891 and is headquartered in Austin, MN.