Hormel Foods Co. (NYSE:HRL) Given Average Recommendation of “Reduce” by Analysts

Hormel Foods Co. (NYSE:HRL) has been given a consensus rating of “Reduce” by the five ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $31.00.

A number of equities analysts have recently weighed in on HRL shares. Piper Sandler upped their price objective on Hormel Foods from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, January 12th. Barclays lifted their price objective on shares of Hormel Foods from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Citigroup started coverage on shares of Hormel Foods in a research note on Thursday, February 1st. They set a “neutral” rating and a $31.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on shares of Hormel Foods from $26.00 to $28.00 and gave the stock a “sell” rating in a research note on Friday, March 1st.

Insider Transactions at Hormel Foods

In related news, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $35.00, for a total value of $539,000.00. Following the completion of the transaction, the vice president now owns 68,029 shares in the company, valued at $2,381,015. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Kevin L. Myers sold 10,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $34.95, for a total value of $349,500.00. Following the sale, the senior vice president now owns 38,708 shares of the company’s stock, valued at $1,352,844.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Mark A. Coffey sold 15,400 shares of Hormel Foods stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $35.00, for a total transaction of $539,000.00. Following the transaction, the vice president now directly owns 68,029 shares of the company’s stock, valued at $2,381,015. The disclosure for this sale can be found here. Insiders have sold a total of 40,800 shares of company stock worth $1,414,872 in the last three months. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HRL. CVA Family Office LLC bought a new stake in shares of Hormel Foods during the 1st quarter worth approximately $31,000. Register Financial Advisors LLC bought a new stake in shares of Hormel Foods during the first quarter worth $42,000. Capital Advisors Ltd. LLC boosted its stake in shares of Hormel Foods by 774.8% during the first quarter. Capital Advisors Ltd. LLC now owns 1,216 shares of the company’s stock valued at $42,000 after purchasing an additional 1,077 shares during the period. Clarity Asset Management Inc. bought a new position in shares of Hormel Foods in the fourth quarter worth about $54,000. Finally, Lindbrook Capital LLC increased its stake in Hormel Foods by 396.9% in the 1st quarter. Lindbrook Capital LLC now owns 1,749 shares of the company’s stock worth $61,000 after buying an additional 1,397 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Up 0.8 %

Shares of NYSE:HRL opened at $35.39 on Friday. The stock has a 50 day moving average of $34.66 and a 200 day moving average of $32.53. The company has a market cap of $19.38 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.39 and a beta of 0.28. Hormel Foods has a 12-month low of $28.51 and a 12-month high of $41.73. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Hormel Foods had a net margin of 6.55% and a return on equity of 11.51%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Hormel Foods will post 1.59 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, March 25th will be paid a $0.2825 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.19%. Hormel Foods’s payout ratio is currently 77.40%.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.