In yesterday’s Wall Street session, Hormel Foods Corporation (NYSE:HRL) shares traded at $40.88, down -0.39% from the previous session.
As of this writing, 11 analysts cover Hormel Foods Corporation (NYSE:HRL). The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $45.10 and a low of $34.00, we find $42.00. Given the previous closing price of $41.04, this indicates a potential upside of 2.34 percent. HRL stock price is now 2.18% away from the 50-day moving average and -4.74% away from the 200-day moving average. The market capitalization of the company currently stands at $22.11B.
There are 7 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $41.26 as their price target over the next twelve months.
In other news, Ourada Mark J, GROUP VICE PRESIDENT sold 9,200 shares of the company’s stock on Jun 13. The stock was sold for $377,200 at an average price of $41.00. Upon completion of the transaction, the GROUP VICE PRESIDENT now directly owns 20,684 shares in the company, valued at $0.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 08, GROUP VICE PRESIDENT Coffey Mark A sold 31,400 shares of the business’s stock. A total of $1,271,700 was realized by selling the stock at an average price of $40.50. This leaves the insider owning 55,133 shares of the company worth $2.25 million. Insiders disposed of 184,341 shares of company stock worth roughly $7.54 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HRL stock. A new stake in Hormel Foods Corporation shares was purchased by AIGEN INVESTMENT MANAGEMENT, LP during the first quarter worth $8,248,000. VIDENT INVESTMENT ADVISORY, LLC invested $6,765,000 in shares of HRL during the first quarter. In the first quarter, AXA S.A. acquired a new stake in Hormel Foods Corporation valued at approximately $6,361,000. HOLOCENE ADVISORS, LP acquired a new stake in HRL for approximately $4,705,000. ERGOTELES LLC purchased a new stake in HRL valued at around $3,421,000 in the second quarter. In total, there are 963 active investors with 41.40% ownership of the company’s stock.
Monday morning saw Hormel Foods Corporation (NYSE: HRL) opened at $41.05. During the past 12 months, Hormel Foods Corporation has had a low of $37.78 and a high of $51.69. As of last week, the company has a debt-to-equity ratio of 0.43, a current ratio of 2.40, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $25.12B, which is based on a 24.08 price-to-earnings ratio, a 6.88 price-to-earnings-growth ratio, and a beta of 0.19. The fifty day moving average price for HRL is $40.04 and a two-hundred day moving average price translates $42.89 for the stock.
The latest earnings results from Hormel Foods Corporation (NYSE: HRL) was released for Apr, 2023. According to the Packaged Foods Company, earnings per share came in at $0.4, inline with analysts’ expectations of $0.4. This compares to $0.48 EPS in the same period last year. The net profit margin was 7.60% and return on equity was 12.40% for HRL. The company reported revenue of $2.98 billion for the quarter, compared to $3.1 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.84 percent. For the current quarter, analysts expect HRL to generate $3.07B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 07/17/2023 were paid a $0.275 dividend. On an annualized basis, this represents a $1.10 dividend and a 2.69% percent yield. There was an ex-dividend date of 07/14/2023 for this dividend. In terms of dividend payout ratio, HRL is presently at 61.70%.
Hormel Foods Corporation(HRL) Company Profile
Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It 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, chilies, shelf-stable microwaveable meals, hashes, stews, tortillas, salsas, tortilla chips, and others. The company also engages in the processing, marketing, and sale of branded and unbranded pork, beef, poultry, and turkey products, as well as offers nutritional food products and supplements, desserts and drink mixes, and industrial gelatin products. It sells its products primarily under the SKIPPY, SPAM, Hormel, Natural Choice, Applegate, Justin’s, Jennie-O, Café H, Herdez, Black Label, Sadler’s, Columbus, Gatherings, Herdez, Wholly, Columbus, Planters, NUT-rition, Planters Cheez Balls, Corn Nuts, etc. brand names through sales personnel, independent brokers, and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.
