Hormel Foods Corporation (NYSE:HRL) Given Consensus Recommendation of “Hold” by Analysts

Hormel Foods Corporation (NYSE:HRL) has been given an average rating of “Hold” by the eight research firms that are presently covering the company, Marketbeat.com reports. One equities research 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 12 month target price among brokers that have covered the stock in the last year is $26.00.

A number of research analysts have commented on HRL shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Stephens boosted their price objective on shares of Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, May 21st. Bank of America lifted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st.

Institutional Investors Weigh In On Hormel Foods

Several institutional investors have recently bought and sold shares of the stock. MUFG Securities EMEA plc purchased a new stake in Hormel Foods during the 2nd quarter valued at about $26,000. GoalVest Advisory LLC purchased a new position in Hormel Foods in the 4th quarter worth approximately $25,000. Strive Financial Group LLC bought a new stake in Hormel Foods in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in Hormel Foods in the fourth quarter valued at approximately $28,000. Finally, Parkside Financial Bank & Trust boosted 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 valued at $31,000 after purchasing an additional 1,025 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Down 0.6%

Shares of HRL stock opened at $24.54 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $22.93 and a two-hundred day moving average price of $23.23. Hormel Foods has a 12-month low of $19.70 and a 12-month high of $31.86. The firm has a market cap of $13.50 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34.

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

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be issued a $0.2925 dividend. The ex-dividend date is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. Hormel Foods’s payout ratio is currently 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.