Hormel Foods Corporation (NYSE:HRL)‘s stock had its “hold” rating reiterated by analysts at Jefferies Group LLC in a report released on Monday, June 12th. They currently have a $34.00 price target on the stock. Jefferies Group LLC’s price objective suggests a potential downside of 1.02% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Mizuho began coverage on shares of Hormel Foods Corporation in a research note on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target for the company. Barclays PLC initiated coverage on shares of Hormel Foods Corporation in a research report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, Credit Suisse Group reduced their price target on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Hormel Foods Corporation presently has an average rating of “Buy” and a consensus target price of $40.27.
Shares of Hormel Foods Corporation (NYSE:HRL) traded down 0.568% during trading on Monday, hitting $34.155. The stock had a trading volume of 806,489 shares. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 20.826 and a beta of 0.55. The company’s 50 day moving average price is $34.42 and its 200 day moving average price is $35.04. Hormel Foods Corporation has a 52 week low of $32.90 and a 52 week high of $40.00.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings results on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Analysts predict that Hormel Foods Corporation will post $1.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.46%.
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In related news, insider Donald H. Kremin sold 27,852 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $34.66, for a total transaction of $965,350.32. Following the completion of the sale, the insider now directly owns 112,746 shares in the company, valued at $3,907,776.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Luis G. Marconi sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total transaction of $45,253.00. Following the sale, the insider now owns 22,532 shares of the company’s stock, valued at $784,338.92. The disclosure for this sale can be found here. Insiders sold 87,087 shares of company stock valued at $3,000,806 over the last quarter. Company insiders own 3.54% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HRL. SRS Capital Advisors Inc. acquired a new position in Hormel Foods Corporation during the fourth quarter valued at approximately $125,000. Canada Pension Plan Investment Board raised its position in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares during the last quarter. Van ECK Associates Corp raised its position in Hormel Foods Corporation by 9.4% in the fourth quarter. Van ECK Associates Corp now owns 4,092 shares of the company’s stock valued at $142,000 after buying an additional 352 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in Hormel Foods Corporation during the fourth quarter valued at approximately $163,000. Finally, Pacer Advisors Inc. raised its position in Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after buying an additional 176 shares during the last quarter. 38.12% of the stock is owned by institutional investors and hedge funds.
About Hormel Foods Corporation
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