Hormel Foods Corporation (HRL) Earns Hold Rating from Mizuho
A number of other equities research analysts also recently weighed in on HRL. BidaskClub downgraded shares of Hormel Foods Corporation from a hold rating to a sell rating in a research note on Tuesday, August 8th. Barclays PLC began coverage on shares of Hormel Foods Corporation in a research note on Tuesday, June 6th. They issued an overweight rating and a $38.00 target price on the stock. Buckingham Research lowered their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a neutral rating on the stock in a research note on Friday, August 25th. Jefferies Group LLC reaffirmed a hold rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research downgraded shares of Hormel Foods Corporation from a hold rating to a sell rating in a research note on Monday, August 21st. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $37.56.
Hormel Foods Corporation (HRL) traded down 0.16% during trading on Wednesday, reaching $31.62. 1,637,954 shares of the company were exchanged. The company has a market capitalization of $16.69 billion, a P/E ratio of 19.52 and a beta of 0.58. The firm’s 50-day moving average is $31.72 and its 200 day moving average is $33.57. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84.
Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. On average, analysts anticipate that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.
In other Hormel Foods Corporation news, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the transaction, the insider now directly owns 26,838 shares of the company’s stock, valued at $858,816. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares in the company, valued at $1,852,200. The disclosure for this sale can be found here. Insiders have sold 169,704 shares of company stock worth $5,343,032 over the last three months. Insiders own 3.54% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC purchased a new position in shares of Hormel Foods Corporation in the second quarter worth $111,000. BB&T Investment Services Inc. purchased a new position in shares of Hormel Foods Corporation in the second quarter worth $118,000. SRS Capital Advisors Inc. increased its stake in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after buying an additional 718 shares during the period. Van ECK Associates Corp increased its stake in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after buying an additional 295 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after buying an additional 19 shares during the period. 38.95% of the stock is currently owned by institutional investors.
About Hormel Foods Corporation
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