Hormel Foods Co. (NYSE:HRL) Receives $32.33 Average Target Price from Brokerages

Shares of Hormel Foods Co. (NYSE:HRL) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $32.17.

Several analysts have weighed in on the company. Stephens assumed coverage on Hormel Foods in a report on Thursday. They issued an “equal weight” rating and a $31.00 price target on the stock. Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $37.00 in a report on Tuesday, August 13th.

Insider Activity at Hormel Foods

In related news, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Hormel Foods news, EVP Deanna T. Brady sold 51,600 shares of Hormel Foods stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the transaction, the senior vice president now directly owns 39,050 shares in the company, valued at $1,276,935. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,400 shares of company stock valued at $2,288,338. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Hormel Foods

A number of large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in shares of Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 647 shares during the period. CVA Family Office LLC purchased a new position in shares of Hormel Foods during the first quarter valued at approximately $31,000. International Assets Investment Management LLC purchased a new position in shares of Hormel Foods during the second quarter valued at approximately $34,000. Central Valley Advisors LLC purchased a new position in shares of Hormel Foods during the second quarter valued at approximately $37,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Hormel Foods during the first quarter valued at approximately $42,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Stock Up 0.8 %

HRL stock opened at $31.35 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The company has a market capitalization of $17.19 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.11 and a beta of 0.25. Hormel Foods has a fifty-two week low of $28.51 and a fifty-two week high of $38.27. The stock has a fifty day moving average of $32.01 and a 200-day moving average of $32.75.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, equities research analysts predict that Hormel Foods will post 1.58 earnings per share for the current year.

Hormel Foods Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.282 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.60%. Hormel Foods’s dividend payout ratio is 80.71%.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.