Hormel Foods (HRL) Downgraded by ValuEngine

ValuEngine lowered shares of Hormel Foods (NYSE:HRL) from a buy rating to a hold rating in a research note released on Saturday, ValuEngine reports.

Several other equities analysts have also recently issued reports on the company. Stephens began coverage on Hormel Foods in a research report on Monday, March 4th. They set an equal weight rating on the stock. Zacks Investment Research cut Hormel Foods from a buy rating to a hold rating in a research report on Friday, March 1st. Credit Suisse Group reiterated a hold rating and set a $39.00 price target on shares of Hormel Foods in a research report on Thursday, February 21st. Finally, Jefferies Financial Group restated a hold rating and issued a $44.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Hormel Foods presently has an average rating of Hold and a consensus price target of $41.33.

Shares of HRL stock opened at $41.10 on Friday. Hormel Foods has a 1 year low of $34.12 and a 1 year high of $46.26. The firm has a market cap of $21.92 billion, a PE ratio of 21.75, a PEG ratio of 2.74 and a beta of 0.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 1.46.



Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts expect that Hormel Foods will post 1.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, April 12th. Hormel Foods’s payout ratio is 44.44%.

In related news, insider Thomas R. Day sold 6,000 shares of Hormel Foods stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $41.91, for a total value of $251,460.00. Following the transaction, the insider now directly owns 5,031 shares in the company, valued at approximately $210,849.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lori J. Marco sold 13,000 shares of Hormel Foods stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $41.56, for a total value of $540,280.00. Following the completion of the transaction, the vice president now owns 48,304 shares in the company, valued at $2,007,514.24. The disclosure for this sale can be found here. Insiders sold a total of 274,705 shares of company stock worth $12,116,336 over the last 90 days. Insiders own 1.11% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Enlightenment Research LLC acquired a new stake in shares of Hormel Foods in the fourth quarter worth $30,000. Acima Private Wealth LLC acquired a new stake in shares of Hormel Foods in the fourth quarter worth $34,000. Bremer Trust National Association acquired a new stake in shares of Hormel Foods in the fourth quarter worth $43,000. We Are One Seven LLC acquired a new stake in shares of Hormel Foods in the fourth quarter worth $45,000. Finally, FTB Advisors Inc. boosted its position in shares of Hormel Foods by 62.7% in the fourth quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock worth $48,000 after buying an additional 433 shares during the period. Institutional investors and hedge funds own 43.46% of the company’s stock.

About Hormel Foods

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Analyst Recommendations for Hormel Foods (NYSE:HRL)

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