Hormel Foods Corp (HRL) Receives Average Rating of “Hold” from Analysts

Shares of Hormel Foods Corp (NYSE:HRL) have been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $35.33.

HRL has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, November 23rd. BMO Capital Markets restated a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research note on Monday, November 6th. Piper Jaffray Companies assumed coverage on Hormel Foods in a research report on Thursday. They issued a “buy” rating and a $42.00 target price for the company. Mizuho reaffirmed a “hold” rating and issued a $33.00 target price on shares of Hormel Foods in a research report on Wednesday, October 4th. Finally, KeyCorp assumed coverage on Hormel Foods in a research report on Tuesday, October 31st. They issued a “hold” rating for the company.

Shares of Hormel Foods (HRL) opened at $36.45 on Friday. The stock has a market cap of $19,065.06, a price-to-earnings ratio of 23.07, a PEG ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. Hormel Foods has a 52 week low of $29.75 and a 52 week high of $38.00.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. research analysts expect that Hormel Foods will post 1.67 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be given a $0.1875 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is 43.04%.

In related news, Chairman James P. Snee sold 7,616 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.16, for a total value of $260,162.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Morrison sold 24,814 shares of Hormel Foods stock in a transaction on 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. Over the last ninety days, insiders sold 148,686 shares of company stock valued at $5,145,515. 3.54% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC lifted its holdings in shares of Hormel Foods by 101.8% during the second quarter. MML Investors Services LLC now owns 25,373 shares of the company’s stock valued at $865,000 after acquiring an additional 12,800 shares during the period. Koch Industries Inc. bought a new position in shares of Hormel Foods during the second quarter valued at $381,000. Cetera Investment Advisers bought a new position in shares of Hormel Foods during the second quarter valued at $463,000. Nomura Holdings Inc. lifted its holdings in shares of Hormel Foods by 42.3% during the second quarter. Nomura Holdings Inc. now owns 115,356 shares of the company’s stock valued at $3,934,000 after acquiring an additional 34,289 shares during the period. Finally, Financial Counselors Inc. bought a new position in shares of Hormel Foods during the second quarter valued at $4,290,000. 38.22% of the stock is owned by institutional investors.

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Hormel Foods Company Profile

Analyst Recommendations for Hormel Foods (NYSE:HRL)

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