Hormel Foods Corporation (HRL) Receiving Somewhat Favorable News Coverage, Accern Reports
Media stories about Hormel Foods Corporation (NYSE:HRL) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Hormel Foods Corporation earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.4006829413224 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Hormel Foods Corporation (HRL) Stock Rating Upgraded by Zacks Investment Research (americanbankingnews.com)
- $2.37 Billion in Sales Expected for Hormel Foods Corporation (HRL) This Quarter (americanbankingnews.com)
- Hormel Foods (NYSE: HRL) has launched its 11th annual corporate responsibility report. (webwire.com)
- Hormel Foods Donation Helps Fight Hunger in Little Rock (arkansasmatters.com)
- Hormel Foods Corporation (HRL) Insider Steven G. Binder Sells 15,000 Shares (americanbankingnews.com)
Shares of Hormel Foods Corporation (NYSE HRL) traded up 0.25% during mid-day trading on Monday, hitting $31.68. The stock had a trading volume of 2,016,652 shares. The stock has a market cap of $16.73 billion, a P/E ratio of 19.56 and a beta of 0.58. The firm has a 50 day moving average of $33.08 and a 200-day moving average of $34.03. Hormel Foods Corporation has a one year low of $30.50 and a one year high of $38.84.
Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts expect that Hormel Foods Corporation will post $1.56 earnings per share for the current fiscal year.
HRL has been the subject of several recent analyst reports. Credit Suisse Group dropped their price target on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 26th. BidaskClub downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $38.00 price objective (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.36.
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In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, VP James N. Sheehan sold 35,704 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total value of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. Insiders sold 63,143 shares of company stock worth $1,988,262 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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