Shares of Hormel Foods Corporation (NYSE:HRL) have been given an average rating of “Buy” by the fourteen analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $40.00.

Several analysts have recently issued reports on HRL shares. BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Credit Suisse Group decreased their target price on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. Stephens restated an “overweight” rating and set a $50.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Jefferies Group LLC restated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st.

In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the transaction, the insider now directly owns 22,532 shares in the company, valued at approximately $784,338.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas R. Day sold 11,139 shares of the company’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the transaction, the insider now owns 24,838 shares in the company, valued at $830,334.34. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Hormel Foods Corporation by 1,105.9% in the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after buying an additional 17,416,591 shares in the last quarter. State Street Corp increased its position in shares of Hormel Foods Corporation by 93.3% in the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after buying an additional 14,529,149 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of Hormel Foods Corporation by 738.9% in the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after buying an additional 2,230,574 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Hormel Foods Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares in the last quarter. Finally, Champlain Investment Partners LLC bought a new position in shares of Hormel Foods Corporation during the first quarter worth approximately $50,220,000. Institutional investors and hedge funds own 38.35% of the company’s stock.

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Shares of Hormel Foods Corporation (NYSE:HRL) traded down 1.181% on Tuesday, hitting $33.796. The stock had a trading volume of 320,884 shares. Hormel Foods Corporation has a 12 month low of $32.26 and a 12 month high of $40.00. The company has a 50 day moving average price of $33.76 and a 200-day moving average price of $34.76. The stock has a market cap of $17.86 billion, a PE ratio of 20.607 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.01. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, equities research analysts anticipate that Hormel Foods Corporation will post $1.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, July 13th. This represents a $0.68 annualized dividend and a yield of 1.99%. Hormel Foods Corporation’s payout ratio is 41.46%.

About Hormel Foods Corporation

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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