Hormel Foods Corporation (NYSE:HRL) Receives Overweight Rating From Stephens

Hormel Foods (HRL) was upgraded to an overweight rating from equal weight by analysts at Stephens. Currently, the brokerage has given the stock a "neutral" rating, and its increase in target price indicates a potential 3.96% upside of Hormel Foods's current price.

In today's session Hormel Foods Corp (HRL) registered an unusually high (614) contracts volume of call trades. The 52 week high for the share price is 73.39 while the 52 week low for the stock is 50.06.

In related news, EVP Steven G. Binder sold 10,000 shares of the company's stock in a transaction on Wednesday, August 26th. Hormel Foods' current market cap stands at $18.87 billion. The move comes as the company stirs investors' interest in the stock, as it will put the "stock price in a more attractive trading range for a number of individual investors". Analysts polled by Thomson Reuters expected the company to report profit per share of $0.69 for the quarter.

In the fourth quarter, the addition of the Applegate business, higher pork operating margins and an improved product mix pushed profit higher in the refrigerated-foods segment, though sales were down 5% on 2% higher volume, reflecting lower pricing compared with last year's record-high pork markets.

Quarterly adjusted earnings came in at 74 cents per share, up 17.5% from the year-ago tally of 63 cents.

Analysts expect Hormel Foods Corp.to post earnings per share of $2.60 for the fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 16th. This is a positive change from Hormel Foods Corp's previous quarterly dividend of $0.25.

Hormel Foods Corporation (NYSE:HRL): On Tuesday heightened volatility was witnessed in Hormel Foods Corporation (NYSE:HRL) which led to swings in the share price. This represents a $1.16 annualized dividend and a yield of 1.58%. "Our profit sharing program is unique within the industry, and it is truly gratifying to be able to share our success with the Hormel Foods team".

Ettinger said the company will work with government agencies and other organizations as they study the virus to try to control future outbreaks. The Company markets its products through Hormel Foods International Corporation (HFIC), a wholly owned subsidiary. The Company operates in five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (NYSE:HRL), Specialty Foods, and International & Other.

Here are the statistics on Hormel Foods Corporation's 52-week performance now. The Other category primarily consists of nutritional food products and supplements, and industrial gelatin products.