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Saturday, December 9, 2023

Hormel Foods Corp. (NYSE: HRL) Could Achieve Gains In The Near Future

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Hormel Foods Corp. (HRL) shows that investor sentiment remained same, with the stock’s consolidated last price to $32.55. The Hormel Foods Corp. has recorded 1,668,599 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted Hormel Foods Corporation to Hold Fourth Quarter Earnings Conference Call.

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Stocks Info

Hormel Foods Corp. is listed on the NYSE in the Consumer Defensive sector while operating in the Packaged Foods industry. At the end of the last regular session, the stock closed at $32.55 and fluctuated between $32.70 as its day high and $32.18 as its day low. The current market capitalization of Hormel Foods Corp. is $17.79B. A total of 7.19 million shares were traded on the day, compared to an average of 2.59M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, HRL has seen 10 BUY and 0 SELL insider trades, representing the acquisition of 18,850 and the disposition of 0 shares. Over the last 12 months, there were 48 BUYs and 24 SELLs from insiders. Insiders purchased 221,483 shares during that period but sold 109,359.

In the most recent transaction, Myers Kevin L sold 5,200 shares of HRL for 30.93 per share on Oct 13. After the transaction, the SENIOR VICE PRESIDENT now owns 38,937 company shares. In a previous transaction on Sep 06, Lilly Pierre M bought 1,454 shares at 37.25 per share. HRL shares that SVP & CHIEF COMPLIANCE OFFICER owns now total 1,454.

Among the insiders who sold shares, Ourada Mark J disposed of 9,200 shares on Jun 13 at a per-share price of $41.00. This resulted in the GROUP VICE PRESIDENT holding 20,684 shares of HRL after the transaction. In another insider transaction, Coffey Mark A sold 31,400 shares at $40.50 per share on Jun 08. Company shares held by the GROUP VICE PRESIDENT now total 55,133.


The reasons why investors prefer dividend-paying companies are that dividends generate immediate cash flow and indicate that the company will perform well in the future. Hormel Foods Corp. pays an annual dividend of $1.09, resulting in a dividend yield of 3.35%, and it has a price to earnings (P/E) ratio of 20.38. HRL’s most recent ex-dividend date was 10/13/2023 when it declared a $0.2750 quarterly dividend that was paid in cash on 11/15/2023. Previously, the company paid the dividend on 8/15/2023 with an ex-dividend date of 7/14/2023. The HRL stock dividend was $0.2750 per share in cash.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for HRL in the last 3 months, the mean price target is $34.61 with high estimates of $42.00 and low estimates of $29.00. In terms of 52-week highs and lows, HRL has a high of $49.73 and a low of $30.70.

As of this writing, HRL has an earnings estimate of $0.45 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of $0.46 per share and a lower estimate of $0.42.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. HRL’s latest balance sheet shows that the firm has $634.69M in Cash & Short Term Investments as of fiscal 2021. There were $3.32B in debt and $1.42B in liabilities at the time. Its Book Value Per Share was $14.11, while its Total Shareholder’s Equity was $6.98B.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for HRL is Buy with a score of 2.44.

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