Hormel Foods Corporation (NYSE:HRL) Receives Average Rating of “Hold” from Brokerages

Hormel Foods Corporation (NYSE:HRL) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.6667.

A number of equities research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a research note on Thursday, May 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Stephens lifted their price target on shares of Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HRL. GoalVest Advisory LLC purchased a new position in shares of Hormel Foods during the fourth quarter worth approximately $25,000. MUFG Securities EMEA plc purchased a new position in shares of Hormel Foods during the second quarter worth approximately $26,000. Strive Financial Group LLC purchased a new position in shares of Hormel Foods during the fourth quarter worth approximately $27,000. Motiv8 Investments LLC purchased a new position in shares of Hormel Foods during the fourth quarter worth approximately $28,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Hormel Foods by 354.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after acquiring an additional 1,025 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 1.4%

Shares of Hormel Foods stock opened at $24.78 on Friday. Hormel Foods has a 12-month low of $19.70 and a 12-month high of $31.86. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.85 and a beta of 0.35. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $21.65 and its 200-day moving average price is $23.07.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. Hormel Foods’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Hormel Foods will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be paid a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.7%. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.