Shares of Hormel (NYSE:HRL) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.88.
Several equities research analysts recently commented on HRL shares. Jefferies Group upgraded shares of Hormel from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, February 14th. Zacks Investment Research upgraded shares of Hormel from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, March 26th. Barclays reiterated a “buy” rating and set a $38.00 target price (down from $40.00) on shares of Hormel in a research report on Friday, February 23rd. Credit Suisse Group reiterated a “neutral” rating on shares of Hormel in a research report on Sunday, February 25th. Finally, Piper Jaffray reiterated a “buy” rating and set a $39.00 target price on shares of Hormel in a research report on Tuesday, February 27th.
Shares of HRL traded down $0.16 during mid-day trading on Friday, reaching $35.24. The company had a trading volume of 2,575,687 shares, compared to its average volume of 2,950,331. Hormel has a 1-year low of $29.75 and a 1-year high of $38.00. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. The company has a market cap of $18,821.45, a P/E ratio of 22.48, a PEG ratio of 2.18 and a beta of 0.44.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 16th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.75 annualized dividend and a yield of 2.13%. Hormel’s payout ratio is 47.77%.
In other Hormel news, insider Steven G. Binder sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $33.40, for a total transaction of $668,000.00. Following the completion of the transaction, the insider now owns 31,964 shares in the company, valued at approximately $1,067,597.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark A. Coffey sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 13th. The stock was sold at an average price of $34.97, for a total transaction of $279,760.00. Following the transaction, the senior vice president now owns 29,011 shares of the company’s stock, valued at approximately $1,014,514.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,976 shares of company stock valued at $9,718,072. Company insiders own 3.54% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HRL. BlackRock Inc. increased its stake in shares of Hormel by 1.8% in the 4th quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock valued at $739,714,000 after acquiring an additional 367,255 shares in the last quarter. Fairpointe Capital LLC increased its stake in shares of Hormel by 0.3% in the 4th quarter. Fairpointe Capital LLC now owns 4,684,543 shares of the company’s stock valued at $170,471,000 after acquiring an additional 16,002 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Hormel by 16.6% in the 4th quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock valued at $134,069,000 after acquiring an additional 524,325 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Hormel by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 3,229,951 shares of the company’s stock valued at $117,316,000 after acquiring an additional 83,024 shares in the last quarter. Finally, APG Asset Management N.V. increased its stake in shares of Hormel by 10.8% in the 4th quarter. APG Asset Management N.V. now owns 3,046,252 shares of the company’s stock valued at $92,316,000 after acquiring an additional 295,914 shares in the last quarter. Hedge funds and other institutional investors own 39.40% of the company’s stock.
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Hormel Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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