Hormel Foods Corp. (NYSE:HRL) had its price objective boosted by equities researchers at BMO Capital Markets from $34.00 to $45.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 27.73% from the stock’s current price.

A number of other analysts have also commented on HRL. Jefferies Group lifted their price objective on Hormel Foods Corp. from $34.00 to $38.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Deutsche Bank AG reiterated a “hold” rating and issued a $38.00 price objective on shares of Hormel Foods Corp. in a research report on Tuesday, August 16th. Credit Suisse Group AG upgraded Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $43.00 in a research report on Monday, August 22nd. Zacks Investment Research upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, August 23rd. Finally, Edward Jones upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.22.

Analyst Recommendations for Hormel Foods Corp. (NYSE:HRL)

Shares of Hormel Foods Corp. (NYSE:HRL) opened at 35.23 on Wednesday. The stock has a 50 day moving average of $37.05 and a 200-day moving average of $36.75. The stock has a market capitalization of $18.64 billion, a price-to-earnings ratio of 22.88 and a beta of 0.52. Hormel Foods Corp. has a 52-week low of $33.70 and a 52-week high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. The firm earned $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. Hormel Foods Corp. had a return on equity of 20.75% and a net margin of 9.35%. Hormel Foods Corp.’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts predict that Hormel Foods Corp. will post $1.69 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 17th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, January 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Hormel Foods Corp.’s previous quarterly dividend of $0.15. Hormel Foods Corp.’s dividend payout ratio is currently 35.37%.

In other news, VP Brian Dean Johnson sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the sale, the vice president now owns 26,119 shares in the company, valued at approximately $992,522. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven G. Binder sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $37.98, for a total value of $455,760.00. Following the sale, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.

Several large investors have recently made changes to their positions in the company. 1832 Asset Management L.P. boosted its stake in shares of Hormel Foods Corp. by 23,155.0% in the third quarter. 1832 Asset Management L.P. now owns 2,325,500 shares of the company’s stock worth $88,202,000 after buying an additional 2,315,500 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Hormel Foods Corp. by 129.3% in the second quarter. American Century Companies Inc. now owns 2,269,752 shares of the company’s stock worth $83,073,000 after buying an additional 1,279,748 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of Hormel Foods Corp. by 111.9% in the second quarter. Glenmede Trust Co. NA now owns 2,351,233 shares of the company’s stock worth $86,053,000 after buying an additional 1,241,388 shares in the last quarter. Janus Capital Management LLC boosted its stake in shares of Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock worth $189,557,000 after buying an additional 1,163,942 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Hormel Foods Corp. during the second quarter worth about $25,804,000. Institutional investors own 34.56% of the company’s stock.

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About Hormel Foods Corp.

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