Media stories about Hormel Foods (NYSE:HRL) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Hormel Foods earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 44.3800397724867 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- Jefferies Group Weighs in on Hormel Foods Corp’s Q2 2018 Earnings (HRL) (americanbankingnews.com)
- Hormel creates executive position to capitalize on growing deli business – MarketWatch (marketwatch.com)
- Hormel Foods (HRL) Scheduled to Post Earnings on Thursday (americanbankingnews.com)
- Hormel Foods Announces New Executive Role and Advancements (finance.yahoo.com)
HRL has been the topic of a number of research reports. Stephens reduced their target price on shares of Hormel Foods from $50.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, October 19th. Morgan Stanley initiated coverage on shares of Hormel Foods in a report on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price objective on the stock. Jefferies Group set a $34.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a report on Sunday, October 29th. Credit Suisse Group set a $33.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a research report on Friday, November 24th. Finally, Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, November 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $35.30.
Hormel Foods (NYSE:HRL) last announced its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. research analysts forecast that Hormel Foods will post 1.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, January 12th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.22%. Hormel Foods’s payout ratio is 47.77%.
In related news, Director Elsa A. Murano sold 7,129 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $36.00, for a total value of $256,644.00. Following the completion of the sale, the director now directly owns 90,991 shares in the company, valued at $3,275,676. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Nakasone sold 3,184 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $37.50, for a total transaction of $119,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,001 shares of company stock valued at $4,612,826. Insiders own 3.54% of the company’s stock.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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