Analysts Set Hormel Foods Co. (NYSE:HRL) PT at $31.67

Shares of Hormel Foods Co. (NYSE:HRL) have earned an average rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.33.

A number of research firms recently commented on HRL. Stephens restated an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research report on Friday, May 31st. JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Finally, Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $37.00 in a report on Tuesday, August 13th.

Hormel Foods Stock Up 1.0 %

Shares of NYSE HRL opened at $32.68 on Tuesday. Hormel Foods has a 1 year low of $28.51 and a 1 year high of $40.12. The firm’s 50-day moving average is $31.22 and its 200-day moving average is $32.66. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $17.92 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 3.11 and a beta of 0.24.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, May 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.97 billion. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Equities analysts expect that Hormel Foods will post 1.6 EPS for the current year.

Institutional Investors Weigh In On Hormel Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of HRL. EverSource Wealth Advisors LLC lifted its position in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 647 shares in the last quarter. CVA Family Office LLC acquired a new position in Hormel Foods during the first quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new position in Hormel Foods in the second quarter valued at approximately $34,000. Central Valley Advisors LLC acquired a new position in shares of Hormel Foods during the 2nd quarter worth approximately $37,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Hormel Foods during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company 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, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.