Shares of Hormel Foods Corporation (NYSE:HRL) have been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.86.

A number of brokerages recently weighed in on HRL. BidaskClub lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Stephens reduced their price objective on Hormel Foods Corporation from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday. Buckingham Research reduced their price objective on 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. Jefferies Group LLC restated a “hold” rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Finally, Mizuho restated a “hold” rating and set a $33.00 price objective on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th.

Hormel Foods Corporation (NYSE HRL) opened at 30.74 on Friday. The company has a 50-day moving average price of $31.45 and a 200 day moving average price of $33.35. The company has a market cap of $16.23 billion, a PE ratio of 18.98 and a beta of 0.58. Hormel Foods Corporation has a 12-month low of $30.29 and a 12-month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings data 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 firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. On average, analysts forecast that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a $0.17 dividend. The ex-dividend date is Friday, October 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. Hormel Foods Corporation’s dividend payout ratio (DPR) is presently 41.98%.

In related news, insider Steven G. Binder sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $31.23, for a total transaction of $468,450.00. Following the sale, the insider now owns 26,838 shares in the company, valued at approximately $838,150.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Morrison sold 24,814 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $31.81, for a total value of $789,333.34. The disclosure for this sale can be found here. Insiders sold a total of 194,518 shares of company stock worth $6,132,366 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Several institutional investors have recently made changes to their positions in HRL. BlackRock Inc. boosted its position in shares of Hormel Foods Corporation by 1,105.9% during the 1st quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock valued at $657,673,000 after purchasing an additional 17,416,591 shares in the last quarter. State Street Corp boosted its position in shares of Hormel Foods Corporation by 93.3% during the 1st quarter. State Street Corp now owns 30,094,045 shares of the company’s stock valued at $1,042,171,000 after purchasing an additional 14,529,149 shares in the last quarter. Fairpointe Capital LLC bought a new stake in shares of Hormel Foods Corporation during the 2nd quarter valued at about $113,723,000. Westwood Holdings Group Inc. boosted its position in shares of Hormel Foods Corporation by 738.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock valued at $87,700,000 after purchasing an additional 2,230,574 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Hormel Foods Corporation by 16.8% during the 2nd quarter. Capital International Investors now owns 8,284,975 shares of the company’s stock valued at $282,600,000 after purchasing an additional 1,191,000 shares in the last quarter. Institutional investors own 38.92% of the company’s stock.

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About Hormel Foods Corporation

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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