Hormel Foods - HRL Stock Forecast, Price & News

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It 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, chilies, shelf-stable microwaveable meals, hashes, stews, tortillas, salsas, tortilla chips, and others. The company also engages in the processing, marketing, and sale of branded and unbranded pork, beef, poultry, and turkey products, as well as offers nutritional food products and supplements, desserts and drink mixes, and industrial gelatin products. It sells its products primarily under the SKIPPY, SPAM, Hormel, Natural Choice, Applegate, Justin's, Jennie-O, Café H, Herdez, Black Label, Sadler's, Columbus, Gatherings, Herdez, Wholly, Columbus, Planters, NUT-rition, Planters Cheez Balls, Corn Nuts, etc. brand names through sales personnel, independent brokers, and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.

Hormel Foods Price Performance

HRL Stock traded down $0.02 during mid-day trading on Friday, reaching $48.91. 1,164,581 shares of the company traded hands, compared to its average volume of 1,151,095. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.28 and a quick ratio of 1.20. The company has a market capitalization of $26.71 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.35 and a beta of 0.13. Hormel Foods has a 52-week low of $40.48 and a 52-week high of $55.11. The company has a fifty day moving average price of $47.23 and a 200-day moving average price of $49.19.

Hormel Foods (NYSE:HRL - Get Rating) last posted its earnings results on Thursday, June 2nd. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.07 billion. Hormel Foods had a return on equity of 14.10% and a net margin of 7.70%. The company's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, analysts anticipate that Hormel Foods will post 1.87 earnings per share for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, July 8th. Hormel Foods's payout ratio is 59.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HRL shares. Credit Suisse Group lowered their target price on Hormel Foods to $44.00 in a research note on Friday, June 3rd. Piper Sandler lowered their price objective on Hormel Foods to $48.00 in a research note on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $47.83.

Insider Transactions at Hormel Foods

In other news, Director Christopher J. Policinski sold 2,110 shares of the business's stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total transaction of $97,629.70. Following the completion of the transaction, the director now owns 85,254 shares of the company's stock, valued at $3,944,702.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Christopher J. Policinski sold 2,110 shares of the business's stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the completion of the sale, the director now owns 85,254 shares in the company, valued at approximately $3,944,702.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin L. Myers sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $45.07, for a total value of $225,350.00. Following the completion of the sale, the senior vice president now owns 32,869 shares of the company's stock, valued at approximately $1,481,405.83. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.