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.
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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
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