Hormel Foods (NYSE:HRL) Stock Price Up 2.7% – What’s Next?

Hormel Foods Co. (NYSE:HRL)’s stock price rose 2.7% during mid-day trading on Monday . The company traded as high as $31.06 and last traded at $31.19. Approximately 289,321 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,528,685 shares. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of research reports. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average price target of $31.80.

Hormel Foods Stock Performance

The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $29.52 and its two-hundred day moving average is $30.67. The company has a market capitalization of $16.97 billion, a P/E ratio of 21.13, a PEG ratio of 2.73 and a beta of 0.21.

Hormel Foods Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, April 14th. Hormel Foods’s payout ratio is 84.67%.

Hedge Funds Weigh In On Hormel Foods

Hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its position in shares of Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after acquiring an additional 934 shares in the last quarter. US Bancorp DE lifted its position in shares of Hormel Foods by 3.4% in the 4th quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after purchasing an additional 20,514 shares during the period. Liberty One Investment Management LLC lifted its position in Hormel Foods by 3.1% during the fourth quarter. Liberty One Investment Management LLC now owns 862,308 shares of the company’s stock valued at $27,051,000 after acquiring an additional 26,121 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Hormel Foods by 13.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 929,871 shares of the company’s stock valued at $29,170,000 after purchasing an additional 111,454 shares in the last quarter. Finally, MCF Advisors LLC boosted its position in Hormel Foods by 54.4% in the fourth quarter. MCF Advisors LLC now owns 27,500 shares of the company’s stock valued at $863,000 after buying an additional 9,684 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.