In yesterday’s Wall Street session, Hormel Foods Corp. (NYSE:HRL) shares traded at $32.11, up 3.55% from the previous session.
HRL stock price is now 1.66% away from the 50-day moving average and -0.84% away from the 200-day moving average. The market capitalization of the company currently stands at $17.61B.
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With the price target enhanced from $33 to $37, Citigroup Upgraded its rating from Neutral to Buy for Hormel Foods Corp. (NYSE: HRL). On May 31, 2024, JP Morgan Upgraded its previous ‘Underweight’ rating to ‘Neutral’ on the stock increasing its target price from $28 to quote $29, while ‘Citigroup’ rates the stock as ‘Neutral’
In other news, Losness-Larson Katherine M, SENIOR VICE PRESIDENT bought 830 shares of the company’s stock on Jun 27 ’24. The stock was bought for $25,000 at an average price of $30.12. Upon completion of the transaction, the SENIOR VICE PRESIDENT now directly owns 15,905 shares in the company, valued at $0.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 02 ’24, Director Murano Elsa A sold 4,300 shares of the business’s stock. A total of $151,068 was realized by selling the stock at an average price of $35.13. This leaves the insider owning 94,583 shares of the company worth $3.04 million. A total of 47.02% of the company’s stock is owned by insiders.
During the past 12 months, Hormel Foods Corp. has had a low of $28.51 and a high of $39.58. As of last week, the company has a debt-to-equity ratio of 0.36, a current ratio of 2.29, and a quick ratio of 1.03. According to the stock market information, the enterprise value for the company is $19313866752, which is based on a 22.56 price-to-earnings ratio, a 3.42 price-to-earnings-growth ratio, and a beta of 0.26. The fifty day moving average price for HRL is $31.5854 and a two-hundred day moving average price translates $32.38255 for the stock.
The latest earnings results from Hormel Foods Corp. (NYSE: HRL) was released for 2024-04-28. The net profit margin was 6.52% and return on equity was 10.02% for HRL. The company reported revenue of $2.9 billion for the quarter, compared to $2.96 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.19 percent. For the current quarter, analysts expect HRL to generate $3.21B in revenue.
Hormel Foods Corp.(HRL) 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. It sells its products under the HORMEL, ALWAYS TENDER, APPLEGATE, AUSTIN BLUES, BACON 1, BLACK LABEL, BREAD READY, BURKE, CAFÉ H, CERATTI, CHI-CHI’S, COLUMBUS, COMPLEATS, CORN NUTS, CURE 81, DAN’S PRIZE, DI LUSSO, DINTY MOORE, DON MIGUEL, DOÑA MARIA, EMBASA, FAST N EASY, FIRE BRAISED, FONTANINI, HAPPY LITTLE PLANTS, HERDEZ, HORMEL GATHERINGS, HORMEL SQUARE TABLE, HORMEL VITAL CUISINE, HOUSE OF TSANG, JENNIE-O, JUSTIN’S, LA VICTORIA, LAYOUT, LLOYD’S, MARY KITCHEN, MR. PEANUT, NATURAL CHOICE, NUT-RITION, OLD SMOKEHOUSE, OVEN READY, PILLOW PACK, PLANTERS, ROSA GRANDE, SADLER’S SMOKEHOUSE, SKIPPY, SPAM, SPECIAL RECIPE, THICK & EASY, VALLEY FRESH, AND WHOLLY brands through sales personnel, independent brokers, and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.
