Zacks reiterated their neutral rating on shares of Hormel Foods Corp. (NYSE:HRL) in a research report sent to investors on Tuesday morning, AnalystRatings.Net reports. The firm currently has a $48.00 price target on the stock.
Zacks’ analyst wrote, “Hormel reported strong results for the fourth quarter of fiscal 2013, with earnings per share of $0.58, recording an increase of 18.4% year over year. Revenues rose 7.1% year over year to $2.3 billion. The year-over-year increment was mainly led by a hike in most of the segments, accompanied by the sales of Skippy peanut butter line, acquired in January 2013. Moreover, operating profits expanded for four out of five segments in the quarter. The company’s advertising campaigns also help in creating awareness about products and, in turn, boost sales. However, lesser barriers to entry in the meat and food market affect the company negatively. Moreover, The company’s growth strategies, via acquisitions, may result in certain integration risks. Therefore, we prefer to remain on the sidelines and maintain a Neutral stance on the company.”
Hormel Foods Corp. (NYSE:HRL) opened at 45.98 on Tuesday. Hormel Foods Corp. has a 52-week low of $30.51 and a 52-week high of $46.12. The stock has a 50-day moving average of $43.59 and a 200-day moving average of $41.97. The company has a market cap of $12.136 billion and a price-to-earnings ratio of 24.72.
Hormel Foods Corp. (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 26th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.04. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Analysts expect that Hormel Foods Corp. will post $2.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 14th. Stockholders of record on Wednesday, January 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from Hormel Foods Corp.’s previous quarterly dividend of $0.17.
HRL has been the subject of a number of other recent research reports. Analysts at Stephens downgraded shares of Hormel Foods Corp. from an overweight rating to an equal weight rating in a research note to investors on Wednesday, November 27th. They now have a $46.00 price target on the stock. Analysts at Ned Davis Research downgraded shares of Hormel Foods Corp. from a buy rating to a neutral rating in a research note to investors on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $44.78.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
To view Zacks’ full report, visit www.zacks.com
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