Hormel Foods - HRL Stock Forecast, Price & News

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Hormel Foods in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" HRL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HRL, but not buy additional shares or sell existing shares.
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6 brokerages have issued 12-month target prices for Hormel Foods' shares. Their HRL share price forecasts range from $44.00 to $54.00. On average, they anticipate the company's share price to reach $48.17 in the next twelve months. This suggests a possible upside of 6.5% from the stock's current price.
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Hormel Foods' stock was trading at $45.55 at the beginning of 2023. Since then, HRL stock has decreased by 0.7% and is now trading at $45.24.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 7th 2023.
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Hormel Foods Co. (NYSE:HRL) released its earnings results on Wednesday, November, 30th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business earned $3.28 billion during the quarter, compared to analysts' expectations of $3.33 billion. Hormel Foods had a trailing twelve-month return on equity of 13.62% and a net margin of 8.03%. The firm's quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share.
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Hormel Foods declared a quarterly dividend on Monday, November 21st. Stockholders of record on Tuesday, January 17th will be paid a dividend of $0.275 per share on Wednesday, February 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, January 13th. This is a positive change from the stock's previous quarterly dividend of $0.26.
Read our dividend analysis for HRL.

Hormel Foods (NYSE:HRL) pays an annual dividend of $1.10 per share and currently has a dividend yield of 2.43%. The company has been increasing its dividend for 57 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 60.11%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, HRL will have a dividend payout ratio of 54.46% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for HRL.

Hormel Foods's stock split on Wednesday, February 10th 2016. The 2-1 split was announced on Wednesday, November 25th 2015. The newly issued shares were issued to shareholders after the closing bell on Tuesday, February 9th 2016. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

Hormel Foods issued an update on its FY 2023 earnings guidance on Friday, December, 30th. The company provided earnings per share (EPS) guidance of $1.83-$1.93 for the period, compared to the consensus EPS estimate of $2.00. The company issued revenue guidance of $12.60 billion-$12.90 billion, compared to the consensus revenue estimate of $13.01 billion.

104 employees have rated Hormel Foods Chief Executive Officer James P. Snee on Glassdoor.com. James P. Snee has an approval rating of 89% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Hormel Foods investors own include Johnson & Johnson (JNJ), AT&T (T), AbbVie (ABBV), Procter & Gamble (PG), Walmart (WMT), Walt Disney (DIS), Exxon Mobil (XOM), Medtronic (MDT), NVIDIA (NVDA) and PepsiCo (PEP).

Hormel Foods trades on the New York Stock Exchange (NYSE) under the ticker symbol "HRL."

Hormel Foods' stock is owned by a number of retail and institutional investors. Top institutional investors include ProShare Advisors LLC (0.67%), Sumitomo Mitsui Trust Holdings Inc. (0.20%), Bank of Montreal Can (0.18%), Tobam (0.14%), New York State Common Retirement Fund (0.12%) and DekaBank Deutsche Girozentrale (0.12%). Insiders that own company stock include Christopher J Policinski, Deanna T Brady, Elsa A Murano, Gary Jamison, Glenn R Leitch, James M Splinter, James N Sheehan, James P Snee, Jana L Haynes, Kevin L Myers, Lori J Marco, Luis G Marconi, Mark A Coffey, Patrick J Connor, Steven J Lykken, Susan K Nestegard, Swen Neufeldt, Terrell K Crews and Thomas R Day.
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Shares of HRL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of HRL stock can currently be purchased for approximately $45.24.

Hormel Foods (NYSE:HRL) has a market capitalization of $24.72 billion and generates $12.46 billion in revenue each year. The company earns $999.99 million in net income (profit) each year or $1.83 on an earnings per share basis.

The company employs 20,000 workers across the globe.

Hormel Foods' mailing address is 1 HORMEL PL, AUSTIN MN, 55912. The official website for the company is www.hormelfoods.com. The company can be reached via phone at (507) 437-5611, via email at ir@hormel.com, or via fax at 507-437-5838.