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

Hormel Foods Co. (NYSE:HRL) has been given an average rating of “Reduce” by the five analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.00.

A number of research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Hormel Foods from $26.00 to $28.00 and gave the company a “sell” rating in a research report on Friday, March 1st. Piper Sandler upped their price target on shares of Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Citigroup assumed coverage on Hormel Foods in a research report on Thursday, February 1st. They set a “neutral” rating and a $31.00 price objective for the company. Barclays upped their target price on Hormel Foods from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. lifted their price target on Hormel Foods from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, March 1st.

Hormel Foods Trading Down 0.7 %

NYSE HRL opened at $35.17 on Friday. The firm’s 50 day moving average price is $34.40 and its two-hundred day moving average price is $32.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.79 and a current ratio of 1.49. Hormel Foods has a twelve month low of $28.51 and a twelve month high of $41.73. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.42 and a beta of 0.28.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a return on equity of 11.51% and a net margin of 6.55%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. Hormel Foods’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Hormel Foods will post 1.59 EPS for the current year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, March 25th will be paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s payout ratio is 77.40%.

Insiders Place Their Bets

In related news, VP Mark A. Coffey sold 15,400 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.18, for a total value of $526,372.00. Following the transaction, the vice president now directly owns 68,029 shares in the company, valued at approximately $2,325,231.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.95, for a total transaction of $349,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,708 shares in the company, valued at $1,352,844.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark A. Coffey sold 15,400 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.18, for a total transaction of $526,372.00. Following the transaction, the vice president now owns 68,029 shares of the company’s stock, valued at $2,325,231.22. The disclosure for this sale can be found here. Insiders sold 40,800 shares of company stock valued at $1,414,872 over the last 90 days. 0.69% of the stock is currently owned by company insiders.

Institutional Trading of Hormel Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC acquired a new position in shares of Hormel Foods in the first quarter valued at $31,000. Register Financial Advisors LLC bought a new position in shares of Hormel Foods during the 1st quarter worth about $42,000. Capital Advisors Ltd. LLC lifted its holdings in shares of Hormel Foods by 774.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock worth $42,000 after acquiring an additional 1,077 shares during the period. Clarity Asset Management Inc. acquired a new stake in shares of Hormel Foods during the 4th quarter valued at about $54,000. Finally, Lindbrook Capital LLC increased its stake in Hormel Foods by 396.9% in the first quarter. Lindbrook Capital LLC now owns 1,749 shares of the company’s stock valued at $61,000 after acquiring an additional 1,397 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

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.