Major Brokerage Firms Issue Research Notes on Hormel Foods Corporation (HRL)

Hormel Foods Corporation (NYSE:HRL) saw an upside of 0.55% to close Monday at $41.92 after adding $0.23 on the day. The 5-day average trading volume is 1,755,120 shares of the company’s common stock. It has gained $42.10 in the past week. An average of 2,316,885 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,153,874.

HRL’s 1-month performance is -0.92% or -$0.39 on its low of $40.48 reached on 10/01/21. The company’s shares have touched a 52-week low of $40.48 and high of $52.51, with the stock’s rally to the 52-week high happening on 02/02/21. YTD, HRL has lost -10.06% or -$4.69. However, the current price is down -20.17%% from the 52-week high price.


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Insider Transactions

On Jul 01, 103 days have gone by since the last insider trading activity for Hormel Foods Corporation (HRL). LYKKEN STEVEN J (Group Vice President) most recently sold 22,600 shares at $47.61 per share on Jul 01. This transaction cost the insider $1,076,001. Director, NESTEGARD SUSAN K, sold 16,470 shares at a price of $48.51 on Jun 11. Then, on Jun 03, Group Vice President Neufeldt Swen sold 6,200 shares at a price of $49.50 per share. This transaction amounted to $306,908.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 31.44 and a low of 18.61. HRL stock has a beta of -0.02. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.18 while the price-to-book (PB) in the most recent quarter is 3.35.

Hormel Foods Corporation pays an annual dividend of $0.98 per share. Its dividend yield is 2.34% and the payout ratio is 59.90%. HRL paid $0.2450 a share compared with prior rate of $0.2450, down 0.0% from last year’s. The company has boosted its dividend for the last 53 consecutive years with the latest dividend increase of $0.0125 reported on Monday November 23 2020. Measured over the last 3 years, the Dividend has been growing by 36.76% yearly.

It is projected that Hormel Foods Corporation’s next ex-dividend date will be on 15-Oct-2021. HRL is expected to distribute $0.245 as its next dividend.

Hormel Foods Corporation’s quick ratio for the period ended July 30 was 1.00, with the current ratio over the same period at 2.10 meaning that HRL stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.49, while the total debt to equity was 0.49. In terms of profitability, the gross margin trailing 12 months is 17.50%. The trailing 12-month EBITDA margin is 13.48% while for the period ending July 30; Hormel Foods Corporation’s operating margin was 10.10%. The firm’s gross profit as reported stood at $1.83 billion against revenue of $9.61 billion.

Earnings Surprise

For the quarterly period ending July 30 this year, Hormel Foods Corporation’s cash and short-term investments amounted to $18.37 million against total debt of $3.32 billion. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 16.84% to $2.86 billion, while revenue of $2.61 billion was 8.98% off the previous quarter. Analysts expected HRL to announce $0.39 per share in earnings in its latest quarter, but it posted $0.39, representing a 0.00% surprise. EBITDA for the quarter stood at more than $277.09 million. HRL stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 5.54 billion, with total debt at $3.32 billion. Shareholders hold equity totaling $542.56 million

Technical Picture

Let’s look briefly at Hormel Foods Corporation (HRL) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 54.86% to suggest the stock is trending Neutral, with historical volatility in this time period at 14.90%.

The stock’s 5-day moving average is $41.61, reflecting a +1.65% or $0.68 change from its current price. HRL is currently trading -1.78% above its 20-day SMA, -8.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -9.62% and -11.45% respectively.

Stochastic %K and %D was 70.16% and 62.53% and the average true range (ATR) pointed at 0.65. The RSI (14) points at 47.72%, while the 14-day stochastic is at 88.62% with the period’s ATR at 0.67. The stock’s 9-day MACD Oscillator is pointing at 0.23 and 0.43 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Hormel Foods Corporation (NYSE: HRL), JP Morgan upgraded it to a Neutral rating. They previously had an Underweight rating on the stock. Analysts offering their rating for HRL stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate HRL as a “sell,”, while 11 advise that investors “Hold.” 2 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.

What is HRL’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $42.00 and a high of $50.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for Hormel Foods Corporation (HRL) stock is $45.56.

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