Argus slashes price target on Hormel Foods Corp. [HRL] – find out why.

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Hormel Foods Corp. [NYSE: HRL] gained 1.53% or 0.49 points to close at $32.55 with a heavy trading volume of 7189302 shares. The company report on October 30, 2023 at 5:00 PM that Hormel Foods Corporation to Hold Fourth Quarter Earnings Conference Call.

Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, invites interested parties to participate in a webcast and conference call with Jim Snee, chairman of the board, president and chief executive officer; Jacinth Smiley, executive vice president and chief financial officer; and Deanna Brady, executive vice president, Retail; to discuss the company’s fourth quarter and full-year financial results. The company will issue its earnings release before the markets open on Wednesday, November 29, 2023, and will host a conference call at 8 a.m. CT (9 a.m. ET).

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The webcast, replay and other information related to the event can be accessed on the company’s investor website,

It opened the trading session at $32.23, the shares rose to $32.6984 and dropped to $32.18, the range by which the price of stock traded the whole day. The daily chart for HRL points out that the company has recorded -19.05% loss over the past six months. However, it is still -6.03% lower than its most recent low trading price.

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If we look at the average trading volume of 2.59M shares, HRL reached to a volume of 7189302 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Hormel Foods Corp. [HRL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HRL shares is $34.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HRL stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Argus have made an estimate for Hormel Foods Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 30, 2023.

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The Average True Range (ATR) for Hormel Foods Corp. is set at 0.88, with the Price to Sales ratio for HRL stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 2.31, with the Price to Cash per share for the same quarter was set at 1.26. Price to Free Cash Flow for HRL in the course of the last twelve months was 21.12 with Quick ratio for the last quarter at 0.65.

Trading performance analysis for HRL stock

Hormel Foods Corp. [HRL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.14. With this latest performance, HRL shares dropped by -13.29% in over the last four-week period, additionally sinking by -19.05% over the last 6 months – not to mention a drop of -30.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HRL stock in for the last two-week period is set at 39.36, with the RSI for the last a single of trading hit 45.25, and the three-weeks RSI is set at 37.33 for Hormel Foods Corp. [HRL]. The present Moving Average for the last 50 days of trading for this stock 36.38, while it was recorded at 32.03 for the last single week of trading, and 39.86 for the last 200 days.

Hormel Foods Corp. [HRL]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Hormel Foods Corp. [HRL] shares currently have an operating margin of +10.04 and a Gross Margin at +17.09. Hormel Foods Corp.’s Net Margin is presently recorded at +8.03.

Return on Total Capital for HRL is now 11.74, given the latest momentum, and Return on Invested Capital for the company is 9.42. Return on Equity for this stock inclined to 13.79, with Return on Assets sitting at 7.69. When it comes to the capital structure of this company, Hormel Foods Corp. [HRL] has a Total Debt to Total Equity ratio set at 44.80. Additionally, HRL Total Debt to Total Capital is recorded at 30.94, with Total Debt to Total Assets ending up at 25.37. Long-Term Debt to Equity for the company is recorded at 44.41, with the Long-Term Debt to Total Capital now at 30.67.

Reflecting on the efficiency of the workforce at the company, Hormel Foods Corp. [HRL] managed to generate an average of $49,999 per employee. Receivables Turnover for the company is 14.01 with a Total Asset Turnover recorded at a value of 0.96.Hormel Foods Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.65 and a Current Ratio set at 1.40.

Hormel Foods Corp. [HRL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HRL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hormel Foods Corp. go to -0.50%.

An analysis of Institutional ownership at Hormel Foods Corp. [HRL]

The top three institutional holders of HRL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in HRL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in HRL stock with ownership which is approximately 5.7994%.

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