Analysts Set Hormel Foods Corporation (NYSE:HRL) Target Price at $25.67

Hormel Foods Corporation (NYSE:HRL) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.6667.

Several research firms recently issued reports on HRL. Bank of America increased their target price on Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research report on Thursday, May 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Finally, Stephens increased their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th.

Hedge Funds Weigh In On Hormel Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in Hormel Foods during the fourth quarter valued at approximately $25,000. MUFG Securities EMEA plc bought a new position in Hormel Foods during the second quarter valued at approximately $26,000. Strive Financial Group LLC bought a new position in Hormel Foods during the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new position in Hormel Foods during the fourth quarter valued at approximately $28,000. Finally, Parkside Financial Bank & Trust boosted its stake in Hormel Foods by 354.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after buying an additional 1,025 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Performance

Shares of HRL opened at $24.14 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $21.90 and a two-hundred day simple moving average of $23.11. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.78 and a beta of 0.35. Hormel Foods has a 52 week low of $19.70 and a 52 week high of $31.86.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, analysts expect that Hormel Foods will post 1.5 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. Hormel Foods’s dividend payout ratio (DPR) is currently 137.65%.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.