Shares of Hormel Foods Corporation (NYSE:HRL) have been assigned an average recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four 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 $34.63.

A number of research analysts have commented on the stock. BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group LLC set a $34.00 target price on shares of Hormel Foods Corporation and gave the company a “hold” rating in a research report on Sunday, October 29th. Barclays PLC decreased their target price on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. Finally, Buckingham Research decreased 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 report on Friday, August 25th.

In other news, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the sale, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the sale, the insider now directly owns 887 shares in the company, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock worth $6,132,366 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Fairpointe Capital LLC purchased a new stake in shares of Hormel Foods Corporation during the second quarter worth approximately $113,723,000. Capital International Investors increased its stake in shares of Hormel Foods Corporation by 28.4% during the third quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock worth $341,808,000 after buying an additional 2,350,000 shares during the period. Valueinvest Asset Management S.A. increased its stake in shares of Hormel Foods Corporation by 29.2% during the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock worth $222,264,000 after buying an additional 1,563,700 shares during the period. Principal Financial Group Inc. increased its stake in shares of Hormel Foods Corporation by 264.7% during the third quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock worth $48,387,000 after buying an additional 1,092,714 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Hormel Foods Corporation by 44.2% during the third quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock worth $98,088,000 after buying an additional 936,053 shares during the period. 38.33% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Corporation (NYSE HRL) opened at $33.08 on Thursday. Hormel Foods Corporation has a 1 year low of $29.75 and a 1 year high of $37.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.53 and a quick ratio of 1.37. The company has a market cap of $17,407.77, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company earned $0.36 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. equities research analysts forecast that Hormel Foods Corporation will post 1.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd were given a dividend of $0.17 per share. The ex-dividend date was Friday, October 20th. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.

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Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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