BidaskClub downgraded shares of Hormel Foods Corporation (NYSE:HRL) from a hold rating to a sell rating in a report issued on Tuesday morning.
HRL has been the subject of a number of other research reports. Zacks Investment Research upgraded Hormel Foods Corporation from a sell rating to a hold rating in a research note on Monday, May 1st. Jefferies Group LLC reiterated a hold rating and set a $34.00 price objective on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Mizuho started coverage on Hormel Foods Corporation in a research note on Wednesday, June 7th. They set a neutral rating and a $35.00 price objective for the company. Credit Suisse Group lowered their price objective on Hormel Foods Corporation from $41.00 to $39.00 and set a buy rating for the company in a research note on Friday, May 26th. Finally, Stephens reiterated an overweight rating and set a $50.00 price objective on shares of Hormel Foods Corporation in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $40.27.
Shares of Hormel Foods Corporation (NYSE:HRL) traded up 1.04% during trading on Tuesday, reaching $34.01. The company’s stock had a trading volume of 1,250,009 shares. The stock’s 50 day moving average price is $33.65 and its 200-day moving average price is $34.66. Hormel Foods Corporation has a 52-week low of $32.26 and a 52-week high of $40.00. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 20.74 and a beta of 0.56.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts anticipate that Hormel Foods Corporation will post $1.66 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s payout ratio is currently 41.46%.
In related news, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the sale, the insider now owns 24,838 shares of the company’s stock, valued at $830,334.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.
Several hedge funds have recently modified their holdings of HRL. Acrospire Investment Management LLC bought a new stake in Hormel Foods Corporation during the second quarter valued at about $111,000. Canada Pension Plan Investment Board raised its stake in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares in the last quarter. Van ECK Associates Corp raised its stake in Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares in the last quarter. 38.35% of the stock is owned by institutional investors.
Hormel Foods Corporation Company Profile
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