Shares of Hormel Foods Corp (NYSE:HRL) have been assigned an average rating of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $39.11.
A number of research analysts have weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $44.00 price target on shares of Hormel Foods in a research note on Thursday, February 21st. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Stephens initiated coverage on shares of Hormel Foods in a report on Monday, March 4th. They issued an “equal weight” rating on the stock. Credit Suisse Group reiterated a “hold” rating and issued a $39.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Finally, Edward Jones downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th.
In related news, VP Gary Jamison sold 8,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $44.37, for a total transaction of $354,960.00. Following the transaction, the vice president now directly owns 15,991 shares in the company, valued at $709,520.67. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Nakasone sold 18,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $39.89, for a total transaction of $718,020.00. Following the transaction, the director now owns 98,457 shares in the company, valued at $3,927,449.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,953 shares of company stock worth $14,309,020. 1.11% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Enlightenment Research LLC bought a new position in Hormel Foods during the fourth quarter worth $30,000. Acima Private Wealth LLC bought a new position in Hormel Foods during the fourth quarter worth $34,000. Bremer Trust National Association bought a new position in Hormel Foods during the fourth quarter worth $43,000. FTB Advisors Inc. boosted its position in Hormel Foods by 62.7% during the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after purchasing an additional 433 shares during the period. Finally, Liberty Wealth Management LLC bought a new position in Hormel Foods during the fourth quarter worth $76,000. 43.82% of the stock is owned by hedge funds and other institutional investors.
HRL traded down $0.15 during trading on Friday, reaching $41.41. The company had a trading volume of 2,853,884 shares, compared to its average volume of 2,930,672. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 2.14. Hormel Foods has a 12 month low of $35.44 and a 12 month high of $46.26. The firm has a market cap of $22.06 billion, a P/E ratio of 21.91, a PEG ratio of 3.18 and a beta of 0.14.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Hormel Foods had a net margin of 10.38% and a return on equity of 17.31%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Hormel Foods will post 1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $0.21 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.03%. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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