ValuEngine Lowers Hormel Foods (HRL) to Hold

ValuEngine cut shares of Hormel Foods (NYSE:HRL) from a buy rating to a hold rating in a report issued on Saturday, ValuEngine reports.

HRL has been the subject of a number of other research reports. Zacks Investment Research upgraded Hormel Foods from a hold rating to a buy rating and set a $47.00 price objective for the company in a report on Thursday, February 28th. Jefferies Financial Group restated a hold rating and set a $44.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Stephens assumed coverage on Hormel Foods in a report on Monday, March 4th. They set an equal weight rating for the company. Finally, Credit Suisse Group restated a hold rating and set a $39.00 price objective on shares of Hormel Foods in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $41.33.

Hormel Foods stock opened at $40.78 on Friday. Hormel Foods has a 52 week low of $34.12 and a 52 week high of $46.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.46 and a quick ratio of 0.77. The stock has a market cap of $22.04 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.71 and a beta of 0.19.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the company posted $0.56 earnings per share. Hormel Foods’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Hormel Foods will post 1.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s dividend payout ratio is presently 44.44%.

In other news, insider Thomas R. Day sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $41.91, for a total transaction of $251,460.00. Following the completion of the sale, the insider now owns 5,031 shares in the company, valued at $210,849.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Elsa A. Murano sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.13, for a total value of $189,585.00. Following the sale, the director now owns 101,067 shares of the company’s stock, valued at approximately $4,257,952.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,705 shares of company stock valued at $12,116,336. Corporate insiders own 1.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRL. Enlightenment Research LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $30,000. Acima Private Wealth LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $34,000. Bremer Trust National Association acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $43,000. We Are One Seven LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $45,000. Finally, FTB Advisors Inc. raised its position in shares of Hormel Foods by 62.7% in the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock valued at $48,000 after buying an additional 433 shares in the last quarter. Institutional investors own 43.49% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Analyst Recommendations for Hormel Foods (NYSE:HRL)

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