Stephens Has Lowered Expectations for Hormel Foods (NYSE:HRL) Stock Price

Hormel Foods (NYSE:HRL) had its target price lowered by analysts at Stephens from $27.00 to $25.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the stock. Stephens’ price objective would suggest a potential upside of 6.63% from the stock’s previous close.

A number of other brokerages have also recently issued reports on HRL. Barclays set a $30.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. increased their price target on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Zacks Research raised Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. The Goldman Sachs Group set a $27.00 price objective on Hormel Foods and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Bank of America increased their target price on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.43.

Hormel Foods Stock Down 2.1%

Shares of NYSE HRL opened at $23.45 on Wednesday. Hormel Foods has a 52-week low of $21.03 and a 52-week high of $32.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47. The business has a fifty day moving average of $24.06 and a two-hundred day moving average of $24.62. The stock has a market cap of $12.90 billion, a PE ratio of 26.95, a PEG ratio of 2.43 and a beta of 0.33.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, December 3rd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Hormel Foods will post 1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hormel Foods

Large investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Hormel Foods by 130.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,706 shares of the company’s stock valued at $2,269,000 after acquiring an additional 51,827 shares in the last quarter. Machina Capital S.A.S. bought a new position in Hormel Foods in the 2nd quarter valued at approximately $820,000. Nordea Investment Management AB boosted its stake in Hormel Foods by 48.3% during the 2nd quarter. Nordea Investment Management AB now owns 40,492 shares of the company’s stock valued at $1,218,000 after purchasing an additional 13,188 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Hormel Foods by 67.4% in the 2nd quarter. Franklin Resources Inc. now owns 296,782 shares of the company’s stock worth $8,978,000 after purchasing an additional 119,460 shares in the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new position in shares of Hormel Foods in the third quarter worth $19,824,000. Institutional investors own 40.99% of the company’s stock.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.