Hormel Foods Co. (NYSE:HRL) Receives Average Recommendation of “Reduce” from Analysts

Hormel Foods Co. (NYSE:HRLGet Free Report) has been assigned a consensus rating of “Reduce” from the six research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.29.

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Hormel Foods from $29.00 to $26.00 and set a “sell” rating for the company in a research report on Thursday, November 30th. Piper Sandler increased their target price on shares of Hormel Foods from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, January 12th. JPMorgan Chase & Co. reduced their target price on shares of Hormel Foods from $36.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, October 16th. Finally, StockNews.com initiated coverage on shares of Hormel Foods in a report on Thursday, October 5th. They issued a “hold” rating on the stock.

Get Our Latest Research Report on Hormel Foods

Hormel Foods Stock Up 0.4 %

HRL opened at $30.68 on Friday. The firm has a 50 day moving average price of $31.62 and a 200-day moving average price of $35.05. The company has a quick ratio of 0.70, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 4.20 and a beta of 0.23. Hormel Foods has a twelve month low of $30.12 and a twelve month high of $46.04.

Hormel Foods (NYSE:HRLGet Free Report) last announced its earnings results on Wednesday, November 29th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.26 billion. Hormel Foods had a net margin of 6.55% and a return on equity of 11.47%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 earnings per share. Equities research analysts forecast that Hormel Foods will post 1.57 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 3.68%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 12th. Hormel Foods’s dividend payout ratio is presently 77.40%.

Insiders Place Their Bets

In other Hormel Foods news, SVP Kevin L. Myers sold 5,892 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $31.47, for a total transaction of $185,421.24. Following the transaction, the senior vice president now directly owns 38,531 shares in the company, valued at approximately $1,212,570.57. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hormel Foods news, SVP Kevin L. Myers sold 5,892 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $31.47, for a total transaction of $185,421.24. Following the completion of the sale, the senior vice president now directly owns 38,531 shares of the company’s stock, valued at $1,212,570.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elsa A. Murano sold 9,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $31.70, for a total transaction of $285,300.00. Following the sale, the director now directly owns 93,698 shares of the company’s stock, valued at $2,970,226.60. The disclosure for this sale can be found here. Insiders have sold a total of 28,021 shares of company stock worth $886,454 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Hormel Foods

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in shares of Hormel Foods by 60.5% during the second quarter. Global Retirement Partners LLC now owns 878 shares of the company’s stock valued at $35,000 after buying an additional 331 shares during the last quarter. Janiczek Wealth Management LLC raised its position in shares of Hormel Foods by 62.9% in the 3rd quarter. Janiczek Wealth Management LLC now owns 1,028 shares of the company’s stock valued at $39,000 after purchasing an additional 397 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Hormel Foods in the 1st quarter valued at approximately $41,000. Massmutual Trust Co. FSB ADV raised its position in shares of Hormel Foods by 43.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,276 shares of the company’s stock valued at $51,000 after purchasing an additional 389 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its position in shares of Hormel Foods by 219.8% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 1,420 shares of the company’s stock valued at $57,000 after purchasing an additional 976 shares during the last quarter. 41.15% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Company Profile

(Get Free Report

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.

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Analyst Recommendations for Hormel Foods (NYSE:HRL)

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