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 Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Hormel Foods to $44.00 in a research note on Friday, June 3rd. Piper Sandler lowered their target price on shares of Hormel Foods to $48.00 in a research note on Friday, June 3rd. One 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, Hormel Foods currently has an average rating of "Hold" and an average target price of $47.83.

Hormel Foods Stock Up 0.3 %

NYSE:HRL traded up $0.13 during trading hours on Wednesday, reaching $50.77. The company had a trading volume of 10,087 shares, compared to its average volume of 1,142,287. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 3.46 and a beta of 0.13. The business's 50-day simple moving average is $47.66 and its two-hundred day simple moving average is $49.29. Hormel Foods has a twelve month low of $40.48 and a twelve month high of $55.11. The company has a quick ratio of 1.20, a current ratio of 2.28 and a debt-to-equity ratio of 0.45.

Hormel Foods (NYSE:HRL - Get Rating) last issued its quarterly earnings data on Thursday, June 2nd. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. The firm 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 revenue was up 18.8% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, equities analysts expect that Hormel Foods will post 1.87 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, July 11th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, July 8th. Hormel Foods's payout ratio is currently 59.43%.

Insider Activity at Hormel Foods

In related news, Director Christopher J. Policinski sold 2,110 shares of the firm's stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $46.27, for a total transaction of $97,629.70. Following the transaction, the director now directly owns 85,254 shares of the company's stock, valued at $3,944,702.58. The transaction 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 firm's stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $46.27, for a total transaction of $97,629.70. Following the transaction, the director now directly owns 85,254 shares of the company's stock, valued at $3,944,702.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin L. Myers sold 5,000 shares of Hormel Foods stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $45.07, for a total transaction of $225,350.00. Following the completion of the sale, the senior vice president now directly owns 32,869 shares in the company, 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.