Hormel Foods (HRL) Hits New 12-Month High at $44.17

Share on StockTwits

Hormel Foods Corp (NYSE:HRL)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $44.17 and last traded at $43.98, with a volume of 1155217 shares trading hands. The stock had previously closed at $43.20.

Several research firms have commented on HRL. Piper Jaffray Companies set a $50.00 target price on Hormel Foods and gave the company a “buy” rating in a research report on Tuesday. Vertical Group downgraded Hormel Foods from a “hold” rating to a “sell” rating in a research report on Tuesday. They noted that the move was a valuation call. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. BMO Capital Markets downgraded Hormel Foods from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $38.00 to $44.00 in a research report on Monday, September 17th. They noted that the move was a valuation call. Finally, Barclays downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective for the company. in a research report on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Hormel Foods presently has a consensus rating of “Hold” and an average price target of $39.67.

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.69 and a quick ratio of 0.78. The stock has a market capitalization of $23.03 billion, a PE ratio of 28.08, a PEG ratio of 2.80 and a beta of 0.14.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the company earned $0.34 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Hormel Foods Corp will post 1.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 22nd will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, October 19th. This represents a $0.75 dividend on an annualized basis and a yield of 1.70%. Hormel Foods’s payout ratio is currently 47.77%.

In other Hormel Foods news, VP Thomas R. Day sold 11,856 shares of Hormel Foods stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $38.52, for a total value of $456,693.12. Following the completion of the sale, the vice president now directly owns 4,964 shares in the company, valued at $191,213.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman James P. Snee sold 21,923 shares of Hormel Foods stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total value of $829,785.55. Following the completion of the sale, the chairman now owns 49,326 shares of the company’s stock, valued at $1,866,989.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,632 shares of company stock valued at $5,556,981. 1.48% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Hormel Foods in the second quarter worth approximately $118,000. Fort L.P. bought a new stake in Hormel Foods in the second quarter worth approximately $125,000. IMS Capital Management acquired a new stake in Hormel Foods in the second quarter valued at approximately $130,000. Dupont Capital Management Corp acquired a new stake in Hormel Foods in the second quarter valued at approximately $135,000. Finally, Moody National Bank Trust Division acquired a new stake in Hormel Foods in the third quarter valued at approximately $142,000. Institutional investors and hedge funds own 41.95% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was posted by Macon Daily and is the property of of Macon Daily. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://macondaily.com/2018/11/07/hormel-foods-hrl-hits-new-12-month-high-at-44-17.html.

About Hormel Foods (NYSE:HRL)

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

See Also: How is Preferred Stock Different from Common Stock?

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply