Hormel Foods (HRL) Receiving Somewhat Favorable News Coverage, Study Shows
News stories about Hormel Foods (NYSE:HRL) have been trending somewhat positive on Friday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Hormel Foods earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 45.0944001293319 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Activist Investor Target Hain Celestial Misses Profit Estimates … – TheStreet.com (thestreet.com)
- Why Everyone You Know Is Doing the Whole30—the Diet Nutritionists Call ‘Baseless’ (finance.yahoo.com)
- Hormel Foods Announces the Retirement of Steve Binder, Executive Vice President and President, Hormel Business Units and the Advancement of Tom Day to Executive Vice President, Refrigerated Foods (finance.yahoo.com)
- Hormel Foods (HRL) Lifted to Hold at Zacks Investment Research (americanbankingnews.com)
- Hormel Foods Partners with Operation Gratitude to Send 52000 Letters to Troops (prnewswire.com)
Several research analysts have weighed in on HRL shares. Morgan Stanley started coverage on shares of Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research note on Monday, November 6th. Piper Jaffray Companies started coverage on shares of Hormel Foods in a research note on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price objective on the stock. KeyCorp started coverage on shares of Hormel Foods in a research note on Tuesday, October 31st. They issued a “hold” rating on the stock. Finally, Stephens dropped their price objective on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.70.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $0.45 EPS. Hormel Foods’s quarterly revenue was down 5.1% on a year-over-year basis. research analysts forecast that Hormel Foods will post 1.71 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a dividend of $0.1875 per share. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 annualized dividend and a dividend yield of 2.33%. Hormel Foods’s dividend payout ratio is 47.77%.
In other news, Chairman James P. Snee sold 7,616 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven G. Binder sold 50,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.18, for a total transaction of $1,709,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,001 shares of company stock worth $4,612,826. 3.54% of the stock is currently owned by company insiders.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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