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

Hormel Foods Co. (NYSE:HRL - Get Free Report) has been given an average recommendation of "Reduce" by the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.29.

A number of analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They set an "equal weight" rating and a $31.00 target price for the company. BNP Paribas initiated coverage on shares of Hormel Foods in a report on Monday, October 21st. They issued an "underperform" rating and a $28.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the completion of the transaction, the vice president now owns 30,589 shares of the company's stock, valued at approximately $976,094.99. This trade represents a 24.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deanna T. Brady sold 51,600 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the sale, the executive vice president now directly owns 72,421 shares of the company's stock, valued at $2,313,850.95. This trade represents a 41.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,400 shares of company stock valued at $2,288,338. Corporate insiders own 0.69% of the company's stock.

Institutional Investors Weigh In On Hormel Foods

A number of large investors have recently added to or reduced their stakes in HRL. EverSource Wealth Advisors LLC grew its position in Hormel Foods by 688.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company's stock worth $26,000 after purchasing an additional 647 shares during the period. Brooklyn Investment Group bought a new stake in Hormel Foods in the 3rd quarter worth approximately $32,000. International Assets Investment Management LLC bought a new stake in Hormel Foods in the 2nd quarter worth approximately $34,000. Central Valley Advisors LLC bought a new stake in Hormel Foods in the 2nd quarter worth approximately $37,000. Finally, Prospera Private Wealth LLC bought a new stake in Hormel Foods in the 3rd quarter worth approximately $39,000. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Performance

NYSE HRL opened at $30.22 on Thursday. The company has a 50-day simple moving average of $31.10 and a two-hundred day simple moving average of $31.80. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods has a 12-month low of $28.51 and a 12-month high of $36.86. The firm has a market cap of $16.57 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 3.10 and a beta of 0.26.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. Hormel Foods's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. On average, equities analysts forecast that Hormel Foods will post 1.58 EPS for the current year.

Hormel Foods Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Tuesday, October 15th. Hormel Foods's dividend payout ratio is 79.58%.

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.