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.

Wall Street Analyst Weigh In

HRL has been the subject of a number of recent analyst reports. Credit Suisse Group lowered their price target on Hormel Foods to $44.00 in a research note on Friday, June 3rd. Piper Sandler lowered their price target 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $47.83.

Hormel Foods Stock Up 0.2 %

NYSE:HRL traded up $0.09 during trading hours on Monday, reaching $49.00. 54,678 shares of the company's stock were exchanged, compared to its average volume of 1,897,419. The company's 50-day moving average is $47.23 and its two-hundred day moving average is $49.19. Hormel Foods has a one year low of $40.48 and a one year high of $55.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.20 and a current ratio of 2.28. The company has a market capitalization of $26.76 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 3.35 and a beta of 0.13.

Hormel Foods (NYSE:HRL - Get Rating) last issued its quarterly earnings results on Thursday, June 2nd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.07 billion. Hormel Foods had a net margin of 7.70% and a return on equity of 14.10%. The business's quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, analysts forecast that Hormel Foods will post 1.87 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, July 11th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, July 8th. This represents a $1.04 annualized dividend and a dividend yield of 2.12%. Hormel Foods's dividend payout ratio is currently 59.43%.

Insider Transactions at Hormel Foods

In other news, SVP Kevin L. Myers sold 5,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Christopher J. Policinski sold 2,110 shares of the 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 of the company's stock, valued at approximately $3,944,702.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin L. Myers sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The shares were 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 directly 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. Company insiders own 0.78% of the company's stock.