Hormel Foods (NYSE:HRL) Stock Price Expected to Rise, Barclays Analyst Says

Hormel Foods (NYSE:HRL) had its price target increased by Barclays from $35.00 to $36.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on HRL. Stephens assumed coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 target price on the stock. Citigroup lowered their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, BNP Paribas assumed coverage on shares of Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.17.

Hormel Foods Stock Up 3.0 %

Shares of NYSE:HRL opened at $30.82 on Tuesday. The firm has a fifty day moving average price of $31.27 and a two-hundred day moving average price of $31.47. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.80 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods has a one year low of $28.51 and a one year high of $36.86.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. Hormel Foods’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Analysts anticipate that Hormel Foods will post 1.67 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, January 13th. This represents a $1.16 annualized dividend and a dividend yield of 3.76%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.28. Hormel Foods’s dividend payout ratio (DPR) is currently 79.45%.

Insiders Place Their Bets

In related news, VP Steven J. Lykken acquired 4,904 shares of Hormel Foods stock in a transaction dated Friday, December 6th. The shares were purchased at an average cost of $32.47 per share, with a total value of $159,232.88. Following the completion of the purchase, the vice president now owns 7,100 shares of the company’s stock, valued at $230,537. This represents a 223.32 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hormel Foods

Several institutional investors have recently bought and sold shares of HRL. Brooklyn Investment Group bought a new stake in Hormel Foods in the third quarter valued at approximately $32,000. Prospera Private Wealth LLC bought a new stake in Hormel Foods during the 3rd quarter valued at $39,000. GAMMA Investing LLC boosted its position in Hormel Foods by 516.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,351 shares of the company’s stock valued at $43,000 after buying an additional 1,132 shares during the period. Capital Performance Advisors LLP bought a new stake in Hormel Foods in the 3rd quarter worth $47,000. Finally, McIlrath & Eck LLC increased its position in shares of Hormel Foods by 47.5% in the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock valued at $63,000 after acquiring an additional 638 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

About Hormel Foods

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.