Hormel Foods (HRL) Earns Daily Coverage Optimism Rating of 0.12
News articles about Hormel Foods (NYSE:HRL) have trended somewhat positive on Tuesday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Hormel Foods earned a news impact score of 0.12 on Accern’s scale. Accern also gave press coverage about the company an impact score of 44.860222798486 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment’s scoring:
- Hormel Foods Corp (HRL) Short Interest Up 14.5% in January (americanbankingnews.com)
- Hormel Foods Corp (NYSE:HRL) Shares Sold by Dividend Assets Capital LLC (gamesworlditalia.com)
- Activist Investor Target Hain Celestial Misses Profit Estimates … – TheStreet.com (thestreet.com)
- Why Everyone You Know Is Doing the Whole30—the Diet Nutritionists Call ‘Baseless’ (finance.yahoo.com)
Several equities research analysts have recently issued reports on HRL shares. Morgan Stanley started coverage on Hormel Foods in a report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and set a $38.00 price target on shares of Hormel Foods in a report on Monday, November 6th. Piper Jaffray Companies started coverage on Hormel Foods in a report on Thursday, January 4th. They set an “overweight” rating and a $42.00 price target for the company. KeyCorp started coverage on Hormel Foods in a report on Tuesday, October 31st. They set a “hold” rating for the company. Finally, Stephens reduced their price target on Hormel Foods from $50.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $35.70.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company earned $0.45 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. research analysts expect that Hormel Foods will post 1.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Tuesday, January 16th will be issued a $0.1875 dividend. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. This represents a $0.75 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, January 12th. Hormel Foods’s payout ratio is 47.77%.
In other news, Director Elsa A. Murano sold 7,129 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $36.00, for a total transaction of $256,644.00. Following the completion of the transaction, the director now directly owns 90,991 shares in the company, valued at $3,275,676. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman James P. Snee sold 7,616 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $34.16, for a total value of $260,162.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,001 shares of company stock valued at $4,612,826. Corporate insiders own 1.48% of the company’s stock.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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