BidaskClub cut shares of Hormel Foods Corporation (NYSE:HRL) from a hold rating to a sell rating in a report released on Tuesday, July 11th.

A number of other equities analysts have also issued reports on the stock. Jefferies Group LLC restated a hold rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Stephens reaffirmed an overweight rating and set a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Mizuho assumed coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They set a neutral rating and a $35.00 price target for the company. Zacks Investment Research raised Hormel Foods Corporation from a sell rating to a hold rating in a report on Wednesday, June 7th. Finally, Barclays PLC assumed coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They set an overweight rating and a $38.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Hormel Foods Corporation currently has a consensus rating of Buy and a consensus price target of $40.27.

Shares of Hormel Foods Corporation (NYSE:HRL) opened at 33.67 on Tuesday. The firm has a market capitalization of $17.80 billion, a PE ratio of 20.53 and a beta of 0.56. The firm’s 50-day moving average is $33.75 and its 200 day moving average is $34.76. Hormel Foods Corporation has a 52 week low of $32.26 and a 52 week high of $40.00.

Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Hormel Foods Corporation had a return on equity of 19.57% and a net margin of 9.42%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities analysts forecast that Hormel Foods Corporation will post $1.66 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 17th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, July 13th. Hormel Foods Corporation’s dividend payout ratio (DPR) is currently 41.46%.

In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the sale, the insider now owns 24,838 shares of the company’s stock, valued at $830,334.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Luis G. Marconi sold 1,300 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board boosted its position in shares of Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock worth $132,000 after buying an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after buying an additional 718 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after buying an additional 295 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock worth $194,000 after buying an additional 176 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Hormel Foods Corporation during the second quarter worth $203,000. Institutional investors and hedge funds own 38.34% of the company’s stock.

About Hormel Foods Corporation

Analyst Recommendations for Hormel Foods Corporation (NYSE:HRL)

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