Hormel Foods Corp (HRL) Receives Average Rating of “Hold” from Analysts
Hormel Foods Corp (NYSE:HRL) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $35.11.
Several analysts recently issued reports on the stock. BidaskClub raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Credit Suisse Group set a $33.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a report on Friday, November 24th. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a report on Sunday, October 29th. Finally, Barclays reduced their price target on shares of Hormel Foods from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th.
Shares of Hormel Foods (NYSE HRL) opened at $37.24 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. The stock has a market cap of $19,656.32, a price-to-earnings ratio of 23.57, a P/E/G ratio of 2.42 and a beta of 0.65. Hormel Foods has a 1-year low of $29.75 and a 1-year high of $38.00.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. analysts anticipate that Hormel Foods will post 1.65 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a $0.1875 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.01%. Hormel Foods’s dividend payout ratio is currently 43.04%.
In related news, Chairman James P. Snee sold 7,616 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas R. Day sold 34,346 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $36.47, for a total transaction of $1,252,598.62. Following the sale, the insider now owns 73,770 shares of the company’s stock, valued at approximately $2,690,391.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,686 shares of company stock valued at $5,625,515. Corporate insiders own 3.54% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. MML Investors Services LLC increased its position in shares of Hormel Foods by 101.8% during the 2nd quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock worth $865,000 after purchasing an additional 12,800 shares in the last quarter. Koch Industries Inc. acquired a new stake in Hormel Foods in the 2nd quarter valued at about $381,000. CLS Investments LLC increased its position in Hormel Foods by 4.7% in the 2nd quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock valued at $1,314,000 after acquiring an additional 1,723 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Hormel Foods in the 2nd quarter valued at about $463,000. Finally, Financial Counselors Inc. acquired a new stake in Hormel Foods in the 2nd quarter valued at about $4,290,000. Institutional investors and hedge funds own 38.33% of the company’s stock.
About Hormel Foods
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