BMO Capital Markets reiterated their buy rating on shares of Hormel Foods Corporation (NYSE:HRL) in a research note released on Monday morning. BMO Capital Markets currently has a $38.00 target price on the stock.
Several other research analysts also recently commented on HRL. BidaskClub downgraded Hormel Foods Corporation from a hold rating to a sell rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Hormel Foods Corporation from a sell rating to a hold rating in a research note on Tuesday, October 31st. KeyCorp assumed coverage on Hormel Foods Corporation in a research note on Tuesday, October 31st. They set a hold rating for the company. Morgan Stanley assumed coverage on Hormel Foods Corporation in a research note on Friday, November 3rd. They set an underweight rating and a $26.00 target price for the company. Finally, Buckingham Research reduced their target price on Hormel Foods Corporation from $37.00 to $33.00 and set a neutral rating for the company in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Hormel Foods Corporation currently has a consensus rating of Hold and a consensus price target of $34.44.
Hormel Foods Corporation (NYSE:HRL) traded up $0.27 during mid-day trading on Monday, reaching $32.22. The company’s stock had a trading volume of 388,208 shares, compared to its average volume of 2,580,000. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 2.53. The company has a market capitalization of $16,990.00, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 2.11 and a beta of 0.59. Hormel Foods Corporation has a 12-month low of $29.75 and a 12-month high of $37.97.
Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. equities analysts forecast that Hormel Foods Corporation will post 1.57 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a $0.17 dividend. The ex-dividend date is Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.11%. 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 business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the completion of the sale, the insider now directly owns 26,838 shares in the company, valued at approximately $838,150.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James N. Sheehan sold 35,704 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the completion of the sale, the vice president now owns 60,000 shares of the company’s stock, valued at $1,852,200. The disclosure for this sale can be found here. Insiders sold a total of 194,518 shares of company stock valued at $6,132,366 over the last 90 days. 3.54% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dupont Capital Management Corp bought a new stake in Hormel Foods Corporation in the 3rd quarter valued at $100,000. Acrospire Investment Management LLC acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $111,000. BB&T Investment Services Inc. acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $118,000. Bronfman E.L. Rothschild L.P. raised its holdings in 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 acquiring an additional 19 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Hormel Foods Corporation in the 2nd quarter valued at $189,000. Institutional investors and hedge funds own 38.02% of the company’s stock.
Hormel Foods Corporation Company Profile
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