Shares of Hormel Foods Corp (NYSE:HRL) have been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $40.63.
Several research firms have recently commented on HRL. Vertical Group cut Hormel Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Jefferies Financial Group cut Hormel Foods from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research note on Tuesday, November 27th. Barclays set a $40.00 target price on Hormel Foods and gave the company a “hold” rating in a research note on Wednesday, November 21st. Zacks Investment Research reiterated a “sell” rating on shares of Hormel Foods in a research note on Tuesday, November 13th. Finally, JPMorgan Chase & Co. began coverage on Hormel Foods in a research note on Friday, September 28th. They set a “neutral” rating and a $41.00 target price for the company.
NYSE:HRL traded up $0.49 during trading hours on Tuesday, hitting $43.84. The stock had a trading volume of 2,265,533 shares, compared to its average volume of 2,835,767. The company has a quick ratio of 0.95, a current ratio of 1.80 and a debt-to-equity ratio of 0.11. Hormel Foods has a 1-year low of $31.71 and a 1-year high of $46.26. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 2.86 and a beta of 0.23.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. Hormel Foods’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, equities analysts anticipate that Hormel Foods will post 1.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, January 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, January 11th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.92%. Hormel Foods’s dividend payout ratio (DPR) is 44.44%.
In related news, insider Luis G. Marconi sold 28,700 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $45.54, for a total transaction of $1,306,998.00. Following the transaction, the insider now directly owns 21,870 shares in the company, valued at $995,959.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James N. Sheehan sold 60,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $44.93, for a total value of $2,695,800.00. Following the transaction, the chief financial officer now owns 60,000 shares in the company, valued at $2,695,800. The disclosure for this sale can be found here. Insiders have sold 208,655 shares of company stock worth $9,414,670 over the last 90 days. 1.11% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HRL. Highwater Wealth Management LLC bought a new stake in Hormel Foods in the fourth quarter valued at $88,000. Sapphire Star Partners LP bought a new stake in Hormel Foods in the third quarter valued at $102,000. Moody National Bank Trust Division bought a new stake in Hormel Foods in the third quarter valued at $142,000. Arlington Partners LLC bought a new stake in Hormel Foods in the fourth quarter valued at $154,000. Finally, Cape Cod Five Cents Savings Bank bought a new stake in Hormel Foods in the third quarter valued at $203,000. Hedge funds and other institutional investors own 42.16% of the company’s stock.
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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