Hormel Foods Corp (NYSE:HRL) was the recipient of a significant decrease in short interest during the month of January. As of January 12th, there was short interest totalling 27,864,782 shares, a decrease of 5.5% from the December 29th total of 29,483,369 shares. Currently, 10.3% of the shares of the stock are short sold. Based on an average daily volume of 3,257,807 shares, the short-interest ratio is currently 8.6 days.
Several brokerages recently weighed in on HRL. Jefferies Group set a $34.00 price target on shares of Hormel Foods and gave the company a “hold” rating in a research report on Thursday, November 30th. Piper Jaffray Companies assumed coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price target on the stock. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Mizuho set a $34.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Saturday, November 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.30.
Hormel Foods (HRL) opened at $34.04 on Thursday. Hormel Foods has a one year low of $29.75 and a one year high of $38.00. The firm has a market cap of $18,030.00, a P/E ratio of 21.68, a P/E/G ratio of 2.07 and a beta of 0.49. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $0.45 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. equities analysts predict that Hormel Foods will post 1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.20%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 47.77%.
In other news, Director Elsa A. Murano sold 7,129 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the transaction, the director now owns 90,991 shares of the company’s stock, valued at approximately $3,275,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total transaction of $260,162.56. The disclosure for this sale can be found here. Insiders have sold 131,001 shares of company stock valued at $4,612,826 over the last quarter. Company insiders own 1.48% of the company’s stock.
A number of large investors have recently made changes to their positions in HRL. Cornerstone Capital Management Holdings LLC. lifted its holdings in shares of Hormel Foods by 11.0% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 50,611 shares of the company’s stock worth $1,841,000 after acquiring an additional 5,025 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Hormel Foods by 1.7% during the 4th quarter. Teachers Advisors LLC now owns 448,563 shares of the company’s stock worth $16,323,000 after acquiring an additional 7,599 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Hormel Foods during the 4th quarter worth $6,073,000. Two Sigma Securities LLC bought a new stake in shares of Hormel Foods during the 4th quarter worth $206,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Hormel Foods during the 4th quarter worth $336,000. 38.31% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “Hormel Foods Corp (NYSE:HRL) Short Interest Update” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark law. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/15/hormel-foods-corp-hrl-short-interest-update.html.
About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.