Brokerages Set Hormel Foods Co. (NYSE:HRL) PT at $31.29

Shares of Hormel Foods Co. (NYSE:HRL) have earned a consensus rating of “Reduce” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.00.

A number of research analysts have issued reports on HRL shares. Citigroup cut their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. BNP Paribas began coverage on shares of Hormel Foods in a research report on Monday, October 21st. They set an “underperform” rating and a $28.00 target price on the stock. Finally, Stephens began coverage on shares of Hormel Foods in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price target on the stock.

Hormel Foods Stock Up 1.1 %

Shares of NYSE:HRL opened at $29.92 on Friday. Hormel Foods has a 12 month low of $28.51 and a 12 month high of $36.86. The company’s 50-day moving average price is $31.30 and its two-hundred day moving average price is $31.47. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.43 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.85 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, research analysts forecast that Hormel Foods will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.88%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 13th. Hormel Foods’s dividend payout ratio (DPR) is currently 77.40%.

Insider Activity at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the company’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the acquisition, the vice president now owns 7,100 shares of the company’s stock, valued at approximately $230,537. This represents a 223.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Hormel Foods

Hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $32,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $39,000. Sentry Investment Management LLC acquired a new stake in Hormel Foods during the 2nd quarter worth approximately $42,000. GAMMA Investing LLC raised its holdings in Hormel Foods by 516.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock worth $43,000 after buying an additional 1,132 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $47,000. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Company Profile

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.