Hormel Foods Co. (NYSE:HRL) Given Average Rating of "Hold" by Analysts

Hormel Foods Co. (NYSE:HRL - Get Free Report) has received an average rating of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.33.

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Citigroup upgraded shares of Hormel Foods from a "neutral" rating to a "buy" rating and raised their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. Finally, Stephens restated an "equal weight" rating and set a $32.00 target price on shares of Hormel Foods in a report on Friday, May 31st.

Hormel Foods Stock Up 1.4 %

Shares of HRL stock traded up $0.46 during trading hours on Friday, hitting $32.57. 2,687,905 shares of the company were exchanged, compared to its average volume of 2,711,826. The stock has a market capitalization of $17.86 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 3.12 and a beta of 0.25. Hormel Foods has a one year low of $28.51 and a one year high of $39.58. The business's 50-day simple moving average is $31.71 and its two-hundred day simple moving average is $32.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.00 and a current ratio of 1.73.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business earned $0.40 earnings per share. Hormel Foods's revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that Hormel Foods will post 1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Hormel Foods

Several institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in Hormel Foods during the 2nd quarter worth $272,000. Advisory Alpha LLC acquired a new position in Hormel Foods during the 2nd quarter worth $219,000. Truist Financial Corp lifted its position in Hormel Foods by 110.8% during the 2nd quarter. Truist Financial Corp now owns 37,228 shares of the company's stock worth $1,135,000 after acquiring an additional 19,571 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Hormel Foods during the 2nd quarter worth $4,129,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Hormel Foods by 10.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 32,573 shares of the company's stock worth $993,000 after acquiring an additional 3,121 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company's stock.

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.