Hormel Foods Corporation (HRL) Research Coverage Started at KeyCorp

KeyCorp initiated coverage on shares of Hormel Foods Corporation (NYSE:HRL) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a hold rating on the stock. KeyCorp also issued estimates for Hormel Foods Corporation’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.56 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.43 EPS and FY2018 earnings at $1.65 EPS.

Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Hormel Foods Corporation from a sell rating to a hold rating in a report on Monday, August 14th. Jefferies Group LLC set a $34.00 price objective on shares of Hormel Foods Corporation and gave the company a hold rating in a report on Sunday, October 29th. Zacks Investment Research lowered shares of Hormel Foods Corporation from a hold rating to a sell rating in a report on Monday, August 21st. Barclays PLC reduced their price objective on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an overweight rating on the stock in a report on Friday, August 25th. Finally, Buckingham Research reduced their price objective on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a neutral rating on the stock in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Hormel Foods Corporation presently has an average rating of Hold and an average target price of $34.44.

Shares of Hormel Foods Corporation (HRL) traded up $0.35 on Tuesday, hitting $31.51. 3,133,290 shares of the stock were exchanged, compared to its average volume of 2,507,901. The company has a current ratio of 2.53, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $16.63 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.05 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. Hormel Foods Corporation’s revenue for the quarter was down 4.1% compared to the same quarter last year. analysts anticipate that Hormel Foods Corporation will post 1.57 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.com-unik.info/2017/11/03/hormel-foods-corporation-hrl-research-coverage-started-at-keycorp.html.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $0.68 annualized dividend and a yield of 2.16%. Hormel Foods Corporation’s dividend payout ratio is currently 41.98%.

In related news, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the sale, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction on Friday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $126,400.00. Following the sale, the director now owns 92,377 shares in the company, valued at $2,919,113.20. The disclosure for this sale can be found here. Insiders have sold a total of 194,518 shares of company stock worth $6,132,366 over the last quarter. 3.54% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of HRL. Dupont Capital Management Corp acquired a new position in Hormel Foods Corporation in the third quarter valued at $100,000. Acrospire Investment Management LLC acquired a new position in Hormel Foods Corporation in the second quarter valued at $111,000. BB&T Investment Services Inc. acquired a new position in Hormel Foods Corporation in the second quarter valued at $118,000. Bronfman E.L. Rothschild L.P. increased 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 purchasing an additional 19 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in Hormel Foods Corporation in the second quarter valued at $189,000. Institutional investors own 38.06% of the company’s stock.

Hormel Foods Corporation Company Profile

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

What are top analysts saying about Hormel Foods Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Hormel Foods Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit