Hormel Foods Co. (NYSE:HRL) Receives Consensus Rating of “Reduce” from Analysts

Hormel Foods Co. (NYSE:HRL) has been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.67.

Several research analysts have issued reports on HRL shares. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Hormel Foods in a research report on Friday, May 31st. Citigroup decreased their price target on shares of Hormel Foods from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Barclays lifted their price target on shares of Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, The Goldman Sachs Group lifted their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research report on Friday, March 1st.

Hormel Foods Price Performance

NYSE HRL opened at $30.49 on Monday. Hormel Foods has a 12 month low of $28.51 and a 12 month high of $41.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.73 and a quick ratio of 1.00. The firm has a market capitalization of $16.72 billion, a PE ratio of 21.78, a P/E/G ratio of 2.90 and a beta of 0.25. The company’s 50 day simple moving average is $33.29 and its 200 day simple moving average is $32.65.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Hormel Foods will post 1.59 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, July 15th. Hormel Foods’s payout ratio is 80.71%.

Institutional Investors Weigh In On Hormel Foods

A number of institutional investors have recently modified their holdings of the stock. Abich Financial Wealth Management LLC acquired a new stake in shares of Hormel Foods during the 1st quarter valued at $108,000. Keynote Financial Services LLC acquired a new stake in shares of Hormel Foods during the 1st quarter valued at $447,000. EverSource Wealth Advisors LLC boosted its stake in shares of Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 647 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of Hormel Foods during the 1st quarter valued at $158,000. Finally, Cetera Advisors LLC boosted its stake in shares of Hormel Foods by 188.2% during the 1st quarter. Cetera Advisors LLC now owns 79,557 shares of the company’s stock valued at $2,776,000 after buying an additional 51,949 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.