A number of research firms have changed their ratings and price targets for Hormel Foods Corp. (NYSE: HRL):
- 10/10/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
- 10/4/2016 – Hormel Foods Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $42.00 price target on the stock.
- 9/28/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
- 9/27/2016 – Hormel Foods Corp. had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $43.00 price target on the stock.
- 9/22/2016 – Hormel Foods Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $42.00 price target on the stock.
- 9/16/2016 – Hormel Foods Corp. was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
- 9/16/2016 – Hormel Foods Corp. is now covered by analysts at Oppenheimer Holdings Inc.. They set a “market perform” rating and a $39.00 price target on the stock.
- 8/24/2016 – Hormel Foods Corp. was upgraded by analysts at Edward Jones from a “hold” rating to a “buy” rating.
- 8/23/2016 – Hormel Foods Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “Hormel Foods reported robust third-quarter fiscal 2016 results. Quarter earnings and revenues both surpassed the Zacks Consensus Estimates and their respective year-ago tallies. The company is strategically improving its sales on the back of higher demand for its major branded products. Moreover, greater operational efficacy is boosting its margins over time. Hormel Foods is tactically enhancing buyers’ loyalty towards its brand by offering them good quality innovative edible products. Also, strategic acquisition of Justin’s, LLC and Applegate are also expected to bolster revenues and margins in the quarters ahead. Based on these bullish trends, the company has raised its full-year fiscal 2016 earnings guidance.”
- 8/19/2016 – Hormel Foods Corp. was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $44.00 price target on the stock.
- 8/16/2016 – Hormel Foods Corp. had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $38.00 price target on the stock.
Hormel Foods Corp. (NYSE:HRL) opened at 38.11 on Thursday. Hormel Foods Corp. has a 52 week low of $32.05 and a 52 week high of $45.72. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 24.75 and a beta of 0.57. The stock’s 50 day moving average is $37.58 and its 200 day moving average is $37.47.
Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Hormel Foods Corp. will post $1.63 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, October 20th. Hormel Foods Corp.’s payout ratio is currently 37.79%.
In other Hormel Foods Corp. news, VP Brian Dean Johnson sold 3,500 shares of Hormel Foods Corp. stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the transaction, the vice president now owns 26,119 shares of the company’s stock, valued at $992,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.54% of the stock is currently owned by company insiders.
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