News coverage about Hormel Foods Corporation (NYSE:HRL) has trended somewhat negative this week, Accern Sentiment reports. Accern ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Hormel Foods Corporation earned a news sentiment score of -0.03 on Accern’s scale. Accern also assigned news stories about the company an impact score of 54 out of 100, meaning that recent press coverage is somewhat likely to have an effect on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment’s rankings:
- 10 Great Dividend Stocks to Own Should the Surging Stock Market Plunge This Summer (dividends4life.com)
- Tyson Foods (TSN) and Hormel Foods Corporation (NYSE:HRL) Critical Survey (americanbankingnews.com)
- Investment Centers of America Increases Position in Hormel Foods Corporation (HRL) – Insider Tradings (insidertradings.org)
- 'Bad' frozen food has a plan to go good with help of celebrity-backed start-up (finance.yahoo.com)
- Hormel Foods Corporation (HRL) and Tyson Foods (TSN) Financial Contrast (americanbankingnews.com)
HRL has been the subject of several recent analyst reports. BMO Capital Markets restated a “buy” rating and issued a $45.00 price target on shares of Hormel Foods Corporation in a report on Thursday, March 30th. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Credit Suisse Group lowered their price target on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 26th. Stephens restated an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a report on Monday, June 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Hormel Foods Corporation currently has an average rating of “Buy” and an average target price of $40.27.
Hormel Foods Corporation (NYSE:HRL) traded down 0.4651% on Monday, hitting $33.0456. The stock had a trading volume of 384,349 shares. Hormel Foods Corporation has a 52 week low of $32.90 and a 52 week high of $40.00. The company has a 50-day moving average price of $34.33 and a 200-day moving average price of $35.04. The stock has a market capitalization of $17.47 billion, a price-to-earnings ratio of 20.1498 and a beta of 0.56.
Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, May 25th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Hormel Foods Corporation had a net margin of 9.42% and a return on equity of 19.57%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Hormel Foods Corporation will post $1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 17th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, July 13th. Hormel Foods Corporation’s payout ratio is 41.46%.
In related news, Director Dakota A. Pippins sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 11th. The stock was sold at an average price of $34.17, for a total value of $102,510.00. Following the completion of the sale, the director now directly owns 96,166 shares of the company’s stock, valued at approximately $3,285,992.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luis G. Marconi sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now directly owns 22,532 shares of the company’s stock, valued at $784,338.92. The disclosure for this sale can be found here. Insiders sold a total of 15,950 shares of company stock valued at $546,776 over the last ninety days. 3.54% of the stock is currently owned by corporate insiders.
About Hormel Foods Corporation
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