Hormel Foods Corporation (NYSE:HRL) does about 1.76M shares in volume on a normal day but saw 2816750 shares change hands in Tuesday trading. The company now has a market cap of 27.71B USD. Its current market price is $51.54, marking a decrease of -2.09% compared to the previous close of $52.64. The 52 week high reached by this stock is $52.97 whilst the lowest price level in 52 weeks is $39.01. The script in recent trading has seen the stock touch a high of $52.81 and a low of $51.26.
Hormel Foods Corporation (HRL) has a 20-day trading average at $51.74 and the current price is -2.70% off the 52-week high compared with 32.12% distance from its 52-week low. The 50-day simple moving average of the closing price is $49.92 and its 200-day simple moving average is $46.93. If we look at the stock’s price movements over the week, volatility stands at 1.58%, which decreases to 1.47% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.58 to suggest the stock is neutral.
12 analysts observing the Hormel Foods Corporation (HRL) stock have set the 12-month price targets for the company’s shares at between $39.00 and $50.00. The consensus objective for the share price is $44.00, suggesting that the stock has a potential downside of -17.14% over the period. The median price target is -14.53% away from the current levels at $45.00.
FactSet Research has provided data showing that 12 brokerages have issued ratings for the stock. 1 analysts have rated it as a sell, while 0 advise that it is a overweight. 1 analysts have rated it as a buy and 9 have advised that investors hold their positions. The consensus recommendation rating is Hold and Wall Street’s advice is for investors to Hold the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 17, 2020 when Argus initiated the stock to “Buy” and issued a price target of. Piper Sandler downgraded the stock to “Neutral” from Overweight on April 29, 2020 at a price target of $48-$47. Goldman upgraded its price target at $35-$45.
The current price level is -0.29%, 3.43%, and 9.93% away from its SMA20, SMA50, and SMA200 respectively, with the HRL price moving above the 50-day SMA on August 25. Hormel Foods Corporation (HRL) stock is down -2.22% over the week and 1.96% over the past month. Its price is 14.25% year-to-date and 20.90% over the past year.
The stock last released its quarterly earnings report for quarter ended 7/30/2020, with the company’s earnings per share (EPS) of $0.37 above consensus estimates by $0.03. The company’s next earnings report is expected on 12/01/2020, with forecasts estimating quarterly EPS at $0.45 and $1.67 for whole year. HRL’s earnings per share are forecast to shrink by -4.00% this year and 9.00% over next year. Expected sales for next quarter are $2.48 billion, which analysts say will come at $9.81 billion for the current fiscal year and next year at $10.09 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.6 billion.
Its 12-month price target is $45.00. To reach the target analysts have set, the stock logically needs to shrink -17.14 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $39.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $50.00.
Outstanding shares total 538.12M with insiders holding 47.97% of the shares and institutional holders owning 46.89% of the company’s common stock. The company has a return on investment of 15.60% and return on equity of 15.40%. The price to earnings ratio (P/E ratio) amounts to 30.34 while the forward price to earnings ratio is 28.30. The beta has a value of -0.04. Price to book ratio is 4.50 and price to sales ratio is 2.89.
According to a U.S. Securities and Exchange Commission filing, Washington Mutual Investors Fund has reduced its position in Hormel Foods Corporation (HRL) to 10,000,000 shares, mirroring a recent drop by 0.00%. Washington Mutual Investors Fund dumped 0.0 shares of Hormel Foods Corporation common stock bringing its total worth to about $508.6 million at the end of recent close, SEC documents show. Washington Mutual Investors Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which sold off 56626.0 shares to end up with 7,605,682 shares worth $386.82 million. iShares Tr – Edge MSCI Min Vol cut their holdings by -0.53% in the company over the course of the most recent quarter. It now holds a 1.23% position in Hormel Foods Corporation thanks to 6.63 million shares amounting to $336.97 million.