Hormel Foods (NYSE:HRL) Stock Price Expected to Rise, Barclays Analyst Says

Hormel Foods (NYSE:HRL) had its target price raised by Barclays from $35.00 to $36.00 in a report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

HRL has been the subject of a number of other reports. Stephens initiated coverage on Hormel Foods in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $31.00 price target for the company. BNP Paribas began coverage on shares of Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 price objective on the stock. Finally, Citigroup decreased their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus price target of $31.17.

Hormel Foods Trading Up 1.8 %

Shares of Hormel Foods stock opened at $30.90 on Tuesday. The company has a market capitalization of $16.96 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.89 and a beta of 0.26. The stock has a fifty day simple moving average of $31.28 and a 200 day simple moving average of $31.46. Hormel Foods has a 12-month low of $28.51 and a 12-month high of $36.86. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Hormel Foods will post 1.67 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be paid a dividend of $0.29 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio is presently 79.45%.

Insider Activity at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the business’s stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the purchase, the vice president now directly owns 7,100 shares in the company, valued at $230,537. This trade represents a 223.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hormel Foods

Institutional investors and hedge funds have recently modified their holdings of the company. Caprock Group LLC grew its position in Hormel Foods by 4.8% during the fourth quarter. Caprock Group LLC now owns 11,246 shares of the company’s stock worth $353,000 after buying an additional 518 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Hormel Foods during the 4th quarter valued at $25,000. Coston McIsaac & Partners grew its position in Hormel Foods by 16.1% in the fourth quarter. Coston McIsaac & Partners now owns 3,382 shares of the company’s stock worth $105,000 after acquiring an additional 468 shares in the last quarter. Forsta AP Fonden increased its stake in Hormel Foods by 7.5% in the fourth quarter. Forsta AP Fonden now owns 62,900 shares of the company’s stock valued at $1,973,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in Hormel Foods during the fourth quarter worth about $235,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company 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, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.