BMO Capital Markets reaffirmed their buy rating on shares of Hormel Foods Corporation (NYSE:HRL) in a report published on Monday, November 6th. They currently have a $38.00 price objective on the stock.
Several other brokerages have also commented on HRL. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research report on Saturday, August 26th. They issued an outperform rating on the stock. Morgan Stanley started coverage on shares of Hormel Foods Corporation in a research report on Friday, November 3rd. They issued an underweight rating and a $26.00 price target on the stock. KeyCorp started coverage on shares of Hormel Foods Corporation in a research report on Tuesday, October 31st. They issued a hold rating on the stock. Zacks Investment Research lowered shares of Hormel Foods Corporation from a hold rating to a sell rating in a research report on Monday, August 21st. Finally, BidaskClub raised shares of Hormel Foods Corporation from a sell rating to a hold rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $34.44.
Hormel Foods Corporation (HRL) traded up $0.19 during trading on Monday, reaching $33.12. 1,986,583 shares of the company traded hands, compared to its average volume of 2,717,967. Hormel Foods Corporation has a 1-year low of $29.75 and a 1-year high of $37.97. The stock has a market capitalization of $17,481.66, a PE ratio of 20.44, a PEG ratio of 2.17 and a beta of 0.58. The company has a current ratio of 2.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion during 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 business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. equities analysts predict that Hormel Foods Corporation will post 1.56 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was first posted by BBNS and is the sole property of of BBNS. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://baseballnewssource.com/markets/hormel-foods-corporation-hrl-given-buy-rating-at-bmo-capital-markets/1762428.html.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, October 20th. This represents a $0.68 dividend on an annualized basis and a yield of 2.05%. Hormel Foods Corporation’s dividend payout ratio is presently 41.98%.
In other news, insider Steven G. Binder sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the completion of the sale, the insider now owns 26,838 shares of the company’s stock, valued at approximately $858,816. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Morrison sold 24,814 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $31.81, for a total transaction of $789,333.34. The disclosure for this sale can be found here. In the last three months, insiders sold 194,518 shares of company stock valued at $6,132,366. Corporate insiders own 3.54% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Dupont Capital Management Corp purchased a new stake in shares of Hormel Foods Corporation in the 3rd quarter valued at $100,000. Acrospire Investment Management LLC purchased a new stake in shares of Hormel Foods Corporation in the 2nd quarter valued at $111,000. BB&T Investment Services Inc. purchased a new stake in shares of Hormel Foods Corporation in the 2nd quarter valued at $118,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Hormel Foods Corporation by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after purchasing an additional 19 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Hormel Foods Corporation in the 2nd quarter valued at $189,000. 38.33% of the stock is owned by institutional investors.
About Hormel Foods Corporation
Receive News & Ratings for Hormel Foods Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corporation and related companies with our FREE daily email newsletter.