Hormel Foods (NYSE:HRL) Given Equal Weight Rating at Stephens

Stephens reissued their equal weight rating on shares of Hormel Foods (NYSE:HRL) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $25.00 target price on the stock.

A number of other brokerages have also recently commented on HRL. Bank of America lifted their target price on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $23.00 target price (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.00.

Hormel Foods Price Performance

Hormel Foods stock opened at $24.28 on Thursday. Hormel Foods has a 52-week low of $19.70 and a 52-week high of $31.86. 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 firm’s fifty day moving average is $22.99 and its 200 day moving average is $23.23. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 2.82 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Hormel Foods will post 1.5 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio is 137.65%.

Institutional Trading of Hormel Foods

A number of large investors have recently made changes to their positions in HRL. Hennion & Walsh Asset Management Inc. increased its stake in Hormel Foods by 1.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company’s stock worth $968,000 after buying an additional 427 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Hormel Foods by 5.0% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock valued at $213,000 after buying an additional 431 shares during the period. Exchange Traded Concepts LLC boosted its position in Hormel Foods by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock valued at $1,308,000 after buying an additional 437 shares during the period. Advisory Alpha LLC grew its stake in Hormel Foods by 2.9% in the 4th quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock worth $367,000 after acquiring an additional 440 shares in the last quarter. Finally, Vermillion Wealth Management Inc. grew its stake in Hormel Foods by 1.7% in the 4th quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock worth $615,000 after acquiring an additional 441 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Company Profile

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.