Hormel Foods (NYSE:HRL) Hits New 12-Month Low at $41.83

Hormel Foods Co. (NYSE:HRL)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $41.83 and last traded at $41.91, with a volume of 55516 shares traded. The stock had previously closed at $42.41.

HRL has been the subject of a number of research reports. Credit Suisse Group cut their target price on shares of Hormel Foods from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, September 7th. TheStreet downgraded shares of Hormel Foods from a “b” rating to a “c+” rating in a report on Tuesday, September 7th. Barclays lowered their price target on shares of Hormel Foods from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 3rd. Finally, Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $52.00 price target on the stock in a report on Friday, May 21st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $44.80.

The business’s 50 day moving average is $45.81 and its two-hundred day moving average is $47.04. The firm has a market capitalization of $22.73 billion, a PE ratio of 26.84, a P/E/G ratio of 3.40 and a beta of -0.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.15 and a quick ratio of 1.01.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, September 1st. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.73 billion. Hormel Foods had a net margin of 8.32% and a return on equity of 13.54%. Hormel Foods’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. Analysts expect that Hormel Foods Co. will post 1.7 EPS for the current fiscal year.

In other Hormel Foods news, VP Steven J. Lykken sold 22,600 shares of the stock in a transaction that occurred on Thursday, July 1st. The shares were sold at an average price of $47.61, for a total transaction of $1,075,986.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Grandview Asset Management LLC bought a new position in shares of Hormel Foods in the first quarter worth approximately $44,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Hormel Foods by 789.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 943 shares of the company’s stock worth $45,000 after purchasing an additional 837 shares during the last quarter. Pflug Koory LLC bought a new position in shares of Hormel Foods in the second quarter worth approximately $53,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Hormel Foods by 63.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,185 shares of the company’s stock worth $57,000 after purchasing an additional 460 shares during the last quarter. Finally, CSat Investment Advisory L.P. grew its holdings in shares of Hormel Foods by 33.3% in the first quarter. CSat Investment Advisory L.P. now owns 1,246 shares of the company’s stock worth $60,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 40.48% of the company’s stock.

About Hormel Foods (NYSE:HRL)

Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.

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