Hormel Foods Corp (NYSE:HRL) Receives $40.09 Consensus PT from Brokerages
Hormel Foods Corp (NYSE:HRL) has been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.09.
HRL has been the subject of several research reports. Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a research note on Tuesday, August 27th. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Stephens set a $37.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Monday, August 12th. BMO Capital Markets set a $44.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Bank of America initiated coverage on Hormel Foods in a research note on Friday, October 25th. They set an “underperform” rating and a $40.00 price target for the company.
In other Hormel Foods news, Director Terrell K. Crews sold 9,046 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $42.35, for a total value of $383,098.10. Following the completion of the transaction, the director now owns 113,305 shares in the company, valued at approximately $4,798,466.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Howse Steve 226,215 shares of the company’s stock in a transaction that occurred on Friday, October 18th. In the last 90 days, insiders sold 126,670 shares of company stock valued at $5,520,877. 1.11% of the stock is owned by corporate insiders.
Shares of HRL stock traded up $0.15 on Monday, hitting $42.38. 1,148,764 shares of the stock were exchanged, compared to its average volume of 1,649,395. The company has a current ratio of 2.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $22.51 billion, a PE ratio of 22.42, a P/E/G ratio of 2.79 and a beta of 0.04. Hormel Foods has a one year low of $37.00 and a one year high of $46.26. The firm’s 50 day moving average is $41.84 and its two-hundred day moving average is $41.38.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. On average, sell-side analysts expect that Hormel Foods will post 1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, October 21st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.84 annualized dividend and a yield of 1.98%. Hormel Foods’s dividend payout ratio is currently 44.44%.
About Hormel Foods
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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