Other equities analysts have also issued research reports about the company. Edward Jones raised Hormel Foods Corp. from a hold rating to a buy rating in a research note on Friday, September 16th. Zacks Investment Research raised Hormel Foods Corp. from a hold rating to a buy rating and set a $44.00 price target on the stock in a research note on Tuesday, August 23rd. Deutsche Bank AG reaffirmed a hold rating and set a $38.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Jefferies Group reaffirmed a hold rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. started coverage on Hormel Foods Corp. in a research note on Friday, September 16th. They set a market perform rating and a $39.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $40.10.
Shares of Hormel Foods Corp. (NYSE:HRL) opened at 38.25 on Thursday. The firm’s 50-day moving average price is $37.45 and its 200-day moving average price is $37.87. Hormel Foods Corp. has a 12 month low of $31.00 and a 12 month high of $45.72. The firm has a market capitalization of $20.24 billion, a price-to-earnings ratio of 24.84 and a beta of 0.56.
Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Hormel Foods Corp. will post $1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, October 24th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $0.58 annualized dividend and a dividend yield of 1.52%. Hormel Foods Corp.’s dividend payout ratio (DPR) is currently 37.79%.
In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $36.74, for a total value of $183,700.00. Following the completion of the sale, the director now directly owns 96,416 shares in the company, valued at $3,542,323.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.54% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Hormel Foods Corp. during the second quarter worth about $399,000. Kentucky Retirement Systems purchased a new position in Hormel Foods Corp. during the second quarter worth about $841,000. KAMES CAPITAL plc increased its position in Hormel Foods Corp. by 16.6% in the second quarter. KAMES CAPITAL plc now owns 37,869 shares of the company’s stock worth $1,386,000 after buying an additional 5,380 shares during the last quarter. Nomura Holdings Inc. increased its position in Hormel Foods Corp. by 2.7% in the second quarter. Nomura Holdings Inc. now owns 83,062 shares of the company’s stock worth $3,022,000 after buying an additional 2,223 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Hormel Foods Corp. by 1,927.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 209,228 shares of the company’s stock worth $7,658,000 after buying an additional 198,910 shares during the last quarter. Institutional investors own 34.10% of the company’s stock.
About Hormel Foods Corp.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Hormel Foods Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp. and related companies with MarketBeat.com's FREE daily email newsletter.