Hormel Foods Corporation (NYSE:HRL) Receives $25.67 Average PT from Brokerages

Shares of Hormel Foods Corporation (NYSE:HRL) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.6667.

HRL has been the subject of several analyst reports. Stephens raised their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Bank of America raised their target price on Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research report on Thursday, May 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. GoalVest Advisory LLC bought a new position in shares of Hormel Foods in the 4th quarter worth about $25,000. MUFG Securities EMEA plc bought a new position in shares of Hormel Foods in the 2nd quarter worth about $26,000. Strive Financial Group LLC bought a new position in shares of Hormel Foods in the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in shares of Hormel Foods in the 4th quarter worth about $28,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Hormel Foods by 354.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after acquiring an additional 1,025 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Down 0.8%

Shares of NYSE:HRL opened at $24.14 on Friday. The firm has a market cap of $13.29 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.80 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. Hormel Foods has a 12-month low of $19.70 and a 12-month high of $31.86. The business has a fifty day simple moving average of $21.85 and a 200 day simple moving average of $23.11.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion during 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%.Hormel Foods’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Analysts predict that Hormel Foods will post 1.5 earnings per share for the current year.

Hormel Foods Announces Dividend

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

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.