Somewhat Critical Media Coverage Extremely Likely to Impact Hormel Foods (HRL) Share Price
Media headlines about Hormel Foods (NYSE:HRL) have trended somewhat negative this week, according to InfoTrie. The research firm identifies negative and positive media coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Hormel Foods earned a daily sentiment score of -1.50 on their scale. InfoTrie also assigned media headlines about the company an news buzz score of 10 out of 10, indicating that recent media coverage is extremely likely to have an impact on the stock’s share price in the next few days.
These are some of the media stories that may have effected Hormel Foods’ ranking:
- Hormel Foods Corporation (HRL) CEO Jim Snee on Q4 2018 Results – Earnings Call Transcript (seekingalpha.com)
- Hormel Foods Corporation (HRL) Q4 2018 Earnings Conference Call Transcript (fool.com)
- Hormel Foods (HRL) Issues FY19 Earnings Guidance (americanbankingnews.com)
- Hormel Foods misses by $0.08, misses on revenue (seekingalpha.com)
- Hormel Foods Corp Bottom Line Rises In Q4 (nasdaq.com)
Several equities research analysts have issued reports on HRL shares. JPMorgan Chase & Co. started coverage on Hormel Foods in a report on Friday, September 28th. They set a “neutral” rating and a $41.00 price target for the company. Barclays downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a report on Friday, August 24th. Piper Jaffray Companies set a $50.00 price target on Hormel Foods and gave the company a “buy” rating in a report on Tuesday, November 6th. Zacks Investment Research reaffirmed a “sell” rating on shares of Hormel Foods in a report on Tuesday, November 13th. Finally, Mizuho downgraded Hormel Foods from a “neutral” rating to an “underperform” rating and set a $33.00 price target for the company. in a report on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.67.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. As a group, equities analysts expect that Hormel Foods will post 1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, January 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from Hormel Foods’s previous quarterly dividend of $0.19. Hormel Foods’s dividend payout ratio (DPR) is presently 47.77%.
In related news, insider Kevin L. Myers sold 2,734 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $39.90, for a total value of $109,086.60. Following the transaction, the insider now owns 8,556 shares in the company, valued at $341,384.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James P. Snee sold 21,923 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total value of $829,785.55. Following the completion of the transaction, the chairman now owns 49,326 shares in the company, valued at approximately $1,866,989.10. The disclosure for this sale can be found here. Insiders sold 138,632 shares of company stock worth $5,556,981 in the last 90 days. 1.48% of the stock is owned by company insiders.
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About Hormel Foods
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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