Hormel Foods Corp. (NYSE:HRL) shares traded 3.75% higher at $32.12 on Wall Street last session.
In accordance with the data, 12 analysts cover Hormel Foods Corp. (NYSE:HRL). The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $42.00 and a low of $29.00, we find $34.00. Given the previous closing price of $30.96, this indicates a potential upside of 9.82 percent. HRL stock price is now -13.50% away from the 50-day moving average and -20.14% away from the 200-day moving average. The market capitalization of the company currently stands at $17.55B.
It has been rated a hold by 8 analysts and a buy by 0. Brokers who have rated the stock have averaged $35.11 as their price target over the next twelve months.
In other news, Myers Kevin L, SENIOR VICE PRESIDENT sold 5,200 shares of the company’s stock on Oct 13. The stock was sold for $160,855 at an average price of $30.93. Upon completion of the transaction, the SENIOR VICE PRESIDENT now directly owns 38,937 shares in the company, valued at $1.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06, SVP & CHIEF COMPLIANCE OFFICER Lilly Pierre M bought 1,454 shares of the business’s stock. A total of $54,153 was incurred on buying the stock at an average price of $37.25. This leaves the insider owning 1,454 shares of the company worth $46702.48. Insiders disposed of 109,359 shares of company stock worth roughly $3.51 million over the past 1 year. A total of 47.24% 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 Corp. shares was purchased by BAYESIAN CAPITAL MANAGEMENT, LP during the first quarter worth $3,006,000. GRAHAM CAPITAL MANAGEMENT, L.P. invested $1,488,000 in shares of HRL during the first quarter. In the first quarter, COLDSTREAM CAPITAL MANAGEMENT INC acquired a new stake in Hormel Foods Corp. valued at approximately $1,278,000. CAPITAL INTERNATIONAL, INC./CA/ acquired a new stake in HRL for approximately $938,000. CFS INVESTMENT ADVISORY SERVICES, LLC purchased a new stake in HRL valued at around $790,000 in the second quarter. In total, there are 963 active investors with 42.11% ownership of the company’s stock.
Hormel Foods Corp. (NYSE: HRL) opened at $31.03 on Wednesday. During the past 12 months, Hormel Foods Corp. has had a low of $30.70 and a high of $49.73. As of last week, the company has a debt-to-equity ratio of 0.43, a current ratio of 1.40, and a quick ratio of 0.65. The fifty day moving average price for HRL is $36.97 and a two-hundred day moving average price translates $40.15 for the stock.
The latest earnings results from Hormel Foods Corp. (NYSE: HRL) was released for Jul, 2023. According to the Packaged Foods Company, earnings per share came in at $0.4, missing analysts’ expectations of $0.41 by -0.01. This compares to $0.40 EPS in the same period last year. The net profit margin was 7.20% and return on equity was 11.64% for HRL. The company reported revenue of $2.96 billion for the quarter, compared to $3.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.34 percent. For the current quarter, analysts expect HRL to generate $3.26B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/15/2023. Investors who held shares on 10/16/2023 were paid a $0.275 dividend. On an annualized basis, this represents a $1.09 dividend and a 3.39% percent yield. There was an ex-dividend date of 10/13/2023 for this dividend. In terms of dividend payout ratio, HRL is presently at 57.16%.
Hormel Foods Corp.(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.
