Hormel Foods Corp (NYSE:HRL) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.33.
HRL has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on shares of Hormel Foods in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 target price on the stock. BMO Capital Markets restated a “buy” rating and set a $38.00 target price on shares of Hormel Foods in a research report on Monday, November 6th. Mizuho restated a “hold” rating and set a $33.00 target price on shares of Hormel Foods in a research report on Wednesday, October 4th. Piper Jaffray Companies initiated coverage on shares of Hormel Foods in a research report on Thursday, January 4th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, Stephens decreased their target price on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th.
Hormel Foods (NYSE:HRL) opened at $34.64 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. Hormel Foods has a 12 month low of $29.75 and a 12 month high of $38.00. The firm has a market cap of $18,355.41, a P/E ratio of 21.92, a PEG ratio of 2.19 and a beta of 0.65.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio (DPR) is 47.47%.
In other Hormel Foods news, insider Steven G. Binder sold 50,000 shares of Hormel Foods stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.18, for a total value of $1,709,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman James P. Snee sold 7,616 shares of Hormel Foods stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.16, for a total transaction of $260,162.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,001 shares of company stock worth $4,612,826. 1.48% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. TIAA FSB boosted its holdings in shares of Hormel Foods by 53.9% in the 4th quarter. TIAA FSB now owns 49,201 shares of the company’s stock valued at $1,790,000 after purchasing an additional 17,238 shares during the last quarter. PGGM Investments lifted its holdings in shares of Hormel Foods by 128.2% during the 4th quarter. PGGM Investments now owns 796,700 shares of the company’s stock valued at $28,992,000 after acquiring an additional 447,535 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Hormel Foods during the 4th quarter valued at $474,000. Kanawha Capital Management LLC acquired a new position in shares of Hormel Foods during the 4th quarter valued at $226,000. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Hormel Foods by 20.2% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 126,157 shares of the company’s stock valued at $4,591,000 after acquiring an additional 21,214 shares in the last quarter. Institutional investors own 38.09% of the company’s stock.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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