Hormel Foods (NYSE:HRL) Hits New 52-Week Low After Earnings Miss

Hormel Foods Co. (NYSE:HRL) shares reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $27.68 and last traded at $27.98, with a volume of 1047880 shares trading hands. The stock had previously closed at $28.73.

The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%.

Analysts Set New Price Targets

Several research firms have recently issued reports on HRL. Citigroup lowered their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $31.00 target price on shares of Hormel Foods in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.17.

Insiders Place Their Bets

In other Hormel Foods news, VP Steven J. Lykken acquired 4,904 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the transaction, the vice president now directly owns 7,100 shares in the company, valued at approximately $230,537. The trade was a 223.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hormel Foods

Hedge funds have recently modified their holdings of the business. Crews Bank & Trust bought a new stake in shares of Hormel Foods during the 4th quarter valued at $25,000. Brooklyn Investment Group bought a new stake in shares of Hormel Foods during the 3rd quarter valued at $32,000. Prospera Private Wealth LLC purchased a new position in shares of Hormel Foods during the 3rd quarter valued at $39,000. Fairway Wealth LLC purchased a new position in shares of Hormel Foods during the 4th quarter valued at $44,000. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after buying an additional 690 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $30.13 and its two-hundred day moving average is $31.09. The company has a market cap of $15.28 billion, a PE ratio of 19.14, a PEG ratio of 2.73 and a beta of 0.26.

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.