Hormel Foods (NYSE:HRL) Earns Equal Weight Rating from Analysts at Stephens

Stephens started coverage on shares of Hormel Foods (NYSE:HRL) in a report issued on Thursday morning, MarketBeat reports. The firm issued an equal weight rating and a $31.00 target price on the stock.

Separately, Citigroup upgraded shares of Hormel Foods from a neutral rating to a buy rating and raised their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $32.17.

Hormel Foods Price Performance

Hormel Foods stock opened at $31.35 on Thursday. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.11 and a beta of 0.25. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $32.01 and a 200 day simple moving average of $32.74. Hormel Foods has a 52 week low of $28.51 and a 52 week high of $38.27.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. Hormel Foods’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, research analysts forecast that Hormel Foods will post 1.58 earnings per share for the current fiscal year.

Hormel Foods Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Tuesday, October 15th. Hormel Foods’s payout ratio is currently 80.71%.

Insider Transactions at Hormel Foods

In related news, VP Steven J. Lykken sold 9,800 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the transaction, the vice president now owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the sale, the executive vice president now owns 72,421 shares in the company, valued at approximately $2,313,850.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Steven J. Lykken sold 9,800 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.91, for a total value of $312,718.00. Following the sale, the vice president now directly owns 30,589 shares of the company’s stock, valued at approximately $976,094.99. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,400 shares of company stock worth $2,288,338. 0.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hormel Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Hormel Foods by 688.3% in the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 647 shares during the period. CVA Family Office LLC purchased a new stake in shares of Hormel Foods during the first quarter worth about $31,000. International Assets Investment Management LLC bought a new stake in shares of Hormel Foods in the second quarter worth about $34,000. Central Valley Advisors LLC purchased a new position in Hormel Foods during the 2nd quarter valued at about $37,000. Finally, Register Financial Advisors LLC bought a new position in Hormel Foods during the 1st quarter valued at approximately $42,000. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.