HRL has been the subject of several other reports. BMO Capital Markets reaffirmed an outperform rating and set a $38.00 target price (down from $45.00) on shares of Hormel Foods Corporation in a research report on Friday, August 25th. Mizuho reaffirmed a hold rating and set a $33.00 target price on shares of Hormel Foods Corporation in a research report on Wednesday, October 4th. Barclays PLC decreased their target price on Hormel Foods Corporation from $38.00 to $35.00 and set an overweight rating for the company in a research report on Friday, August 25th. Zacks Investment Research raised Hormel Foods Corporation from a sell rating to a hold rating in a research report on Monday, September 11th. Finally, BidaskClub lowered Hormel Foods Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $35.50.
Hormel Foods Corporation (NYSE:HRL) last announced its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Monday, October 23rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is currently 41.98%.
In related news, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $31.81, for a total value of $789,333.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $31.60, for a total value of $126,400.00. Following the completion of the sale, the director now directly owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. In the last three months, insiders sold 194,518 shares of company stock valued at $6,132,366. 3.54% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HRL. OppenheimerFunds Inc. increased its holdings in Hormel Foods Corporation by 8.2% in the 1st quarter. OppenheimerFunds Inc. now owns 34,692 shares of the company’s stock worth $1,201,000 after acquiring an additional 2,621 shares during the last quarter. Wellington Management Group LLP increased its holdings in Hormel Foods Corporation by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 58,830 shares of the company’s stock worth $2,037,000 after acquiring an additional 6,661 shares during the last quarter. Teachers Advisors LLC increased its holdings in Hormel Foods Corporation by 4.5% in the 1st quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock worth $13,713,000 after acquiring an additional 16,944 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in Hormel Foods Corporation by 13.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the company’s stock worth $400,000 after acquiring an additional 1,370 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Hormel Foods Corporation by 17.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,336,211 shares of the company’s stock worth $46,270,000 after acquiring an additional 200,661 shares during the last quarter. 38.06% of the stock is owned by institutional investors.
Hormel Foods Corporation Company Profile
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