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

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

HRL has been the topic of several research analyst reports. Stephens initiated coverage on Hormel Foods in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $31.00 price objective on the stock. Citigroup reduced their price objective on Hormel Foods from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, November 19th. Finally, BNP Paribas initiated coverage on Hormel Foods in a research note on Monday, October 21st. They issued an "underperform" rating and a $28.00 price objective on the stock.

Insiders Place Their Bets

In other news, VP Steven J. Lykken acquired 4,904 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the acquisition, the vice president now directly owns 7,100 shares in the company, valued at $230,537. The trade was a 223.32 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hormel Foods

Several hedge funds and other institutional investors have recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Hormel Foods during the 3rd quarter valued at $32,000. Prospera Private Wealth LLC bought a new position in Hormel Foods in the 3rd quarter worth about $39,000. GAMMA Investing LLC increased its stake in Hormel Foods by 516.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company's stock worth $43,000 after acquiring an additional 1,132 shares during the last quarter. Sentry Investment Management LLC purchased a new stake in Hormel Foods during the 2nd quarter valued at about $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in Hormel Foods in the 3rd quarter worth approximately $47,000. Institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE HRL traded down $0.43 during mid-day trading on Friday, reaching $30.01. The company had a trading volume of 3,194,515 shares, compared to its average volume of 2,137,969. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32. Hormel Foods has a one year low of $28.51 and a one year high of $36.86. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.12 and a beta of 0.26. The business's 50-day simple moving average is $31.35 and its 200 day simple moving average is $31.47.

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

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.87%. This is an increase from Hormel Foods's previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 13th. Hormel Foods's dividend payout ratio (DPR) is 79.45%.

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.