Hormel Foods Corp. (HRL) Trading Down 0.7%
Shares of Hormel Foods Corp. (NYSE:HRL) fell 0.7% during trading on Monday . The company traded as low as $36.49 and last traded at $36.81, with a volume of 668,782 shares. The stock had previously closed at $37.06.
A number of brokerages have recently commented on HRL. Jefferies Group restated a “hold” rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Hormel Foods Corp. has an average rating of “Hold” and an average target price of $39.83.
The stock has a market capitalization of $19.45 billion and a price-to-earnings ratio of 25.32. The company’s 50-day moving average price is $36.52 and its 200 day moving average price is $38.93.
Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings data on Wednesday, May 18th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The business earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the firm posted $0.34 EPS. Hormel Foods Corp.’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts expect that Hormel Foods Corp. will post $1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 18th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Thursday, July 14th.
In other news, Director Dakota A. Pippins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $36.74, for a total transaction of $183,700.00. Following the sale, the director now owns 96,416 shares of the company’s stock, valued at approximately $3,542,323.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Other large investors have recently made changes to their positions in the company. Advantus Capital Management Inc raised its stake in shares of Hormel Foods Corp. by 4.5% in the fourth quarter. Advantus Capital Management Inc now owns 13,084 shares of the company’s stock valued at $1,035,000 after buying an additional 559 shares during the period. Stephens Inc. AR purchased a new stake in shares of Hormel Foods Corp. during the fourth quarter valued at approximately $1,525,000. Advisors Asset Management Inc. raised its stake in shares of Hormel Foods Corp. by 168.4% in the fourth quarter. Advisors Asset Management Inc. now owns 30,797 shares of the company’s stock valued at $2,435,000 after buying an additional 19,322 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Hormel Foods Corp. by 2.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 64,206 shares of the company’s stock valued at $5,077,000 after buying an additional 1,569 shares during the period. Finally, State of Tennessee Treasury Department raised its stake in shares of Hormel Foods Corp. by 305.1% in the fourth quarter. State of Tennessee Treasury Department now owns 83,046 shares of the company’s stock valued at $6,567,000 after buying an additional 62,546 shares during the period.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.