The Hormel Foods Corp. (HRL) Downgraded by Vetr Inc.

The Hormel Foods Corp. (HRL) Downgraded by Vetr Inc.

Vetr cut shares of Hormel Foods Corp. (NYSE:HRL) from a strong-buy rating to a buy rating in a report released on Monday morning. They currently have $42.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group AG reaffirmed an outperform rating and set a $43.00 price target on shares of Hormel Foods Corp. in a report on Tuesday, September 27th. Oppenheimer Holdings Inc. began coverage on Hormel Foods Corp. in a report on Friday, September 16th. They set a market perform rating and a $39.00 price target for the company. Edward Jones raised Hormel Foods Corp. from a hold rating to a buy rating in a report on Friday, September 16th. Zacks Investment Research raised Hormel Foods Corp. from a hold rating to a buy rating and set a $44.00 price target for the company in a report on Tuesday, August 23rd. Finally, BMO Capital Markets raised Hormel Foods Corp. from a market perform rating to an outperform rating and set a $44.00 price target for the company in a report on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $40.10.

Shares of Hormel Foods Corp. (NYSE:HRL) opened at 38.11 on Monday. Hormel Foods Corp. has a 52 week low of $32.05 and a 52 week high of $45.72. The firm’s 50-day moving average is $37.58 and its 200 day moving average is $37.47. The firm has a market capitalization of $20.17 billion, a PE ratio of 24.75 and a beta of 0.57.

Hormel Foods Corp. (NYSE:HRL) last announced its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Hormel Foods Corp. will post $1.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, October 24th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, October 20th. Hormel Foods Corp.’s dividend payout ratio (DPR) is presently 37.79%.

In other news, VP Brian Dean Johnson sold 3,500 shares of Hormel Foods Corp. stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the completion of the transaction, the vice president now owns 26,119 shares of the company’s stock, valued at approximately $992,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.54% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Hormel Foods Corp. by 32.8% in the second quarter. Van ECK Associates Corp now owns 2,734 shares of the company’s stock valued at $100,000 after buying an additional 676 shares during the period. Checchi Capital Advisers LLC boosted its stake in Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Global X Management Co. LLC boosted its stake in Hormel Foods Corp. by 192.9% in the second quarter. Global X Management Co. LLC now owns 2,794 shares of the company’s stock worth $102,000 after buying an additional 1,840 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in Hormel Foods Corp. by 285.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,380 shares of the company’s stock worth $124,000 after buying an additional 2,504 shares in the last quarter. Finally, Huntington National Bank boosted its stake in Hormel Foods Corp. by 40.0% in the second quarter. Huntington National Bank now owns 3,500 shares of the company’s stock worth $128,000 after buying an additional 1,000 shares in the last quarter. 34.09% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Corp. Company Profile

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