Hilton Food Group (HFG)

Sector:

Food

Index:

FTSE 250

910.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 942.00p
  • 52 Week Low: 637.00p
  • Currency: UK Pounds
  • Shares Issued: 89.70m
  • Volume: 62,919
  • Market Cap: £816.29m
  • RiskGrade: 184

Berenberg lowers target price on Hilton Food

By Iain Gilbert

Date: Friday 11 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on food manufacturer Hilton Food Group from 850.0p to 790.0p on Friday after the company's seafood unit fell short of its quota.
Berenberg highlighted that Hilton Food's trading update on Tuesday indicated that its seafood business, which makes up roughly 10% of revenues, was set to deliver "a softer performance than initially expected".

The German bank noted that Hilton's seafood division did not have the same cost pass-through mechanisms as its core processing business, and slower progress renegotiating pricing with customers had now caused it to deliver its second profit warning in as many months.

"While visibility is low and investor confidence is dented, these challenges are not unique and its valuation remains attractive, in our view," said Berenberg, which maintained its 'buy' rating on the stock but lowered its price target in order to reflect a lower earnings track and a higher risk premium.

"Hilton's -52% share price performance this year can be broadly bucketed 40:60 between de-rating and earnings cuts. While we think a de-rating is somewhat justified given a higher risk profile and the broader market de-rating, we ultimately believe that profitability will be restored. Furthermore, we think that entering a new geography could materially boost earnings. With this in mind, we think that there is value with Hilton trading on 10x FY23E pre-IFRS 16 earnings," said the analysts.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HFG Market Data

Currency UK Pounds
Share Price 910.00p
Change Today 4.00p
% Change 0.44 %
52 Week High 942.00p
52 Week Low 637.00p
Volume 62,919
Shares Issued 89.70m
Market Cap £816.29m
RiskGrade 184

HFG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.77% below the market average76.77% below the market average76.77% below the market average76.77% below the market average76.77% below the market average
85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average
Price Trend
50.94% above the market average50.94% above the market average50.94% above the market average50.94% above the market average50.94% above the market average
44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average44.83% above the sector average
Income
28.08% above the market average28.08% above the market average28.08% above the market average28.08% above the market average28.08% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Growth
19.85% below the market average19.85% below the market average19.85% below the market average19.85% below the market average19.85% below the market average
11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average11.11% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 1
Sell 1
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HFG Dividends

  Latest Previous
  Final Interim
Ex-Div 30-May-24 02-Nov-23
Paid 28-Jun-24 01-Dec-23
Amount 23.00p 9.00p

Trades for 12-Jul-2024

Time Volume / Share Price
16:37 1,947 @ 910.00p
16:35 37,555 @ 910.00p
16:35 114 @ 910.00p
16:35 428 @ 910.00p
16:35 420 @ 910.00p

HFG Key Personnel

CFO Matt Osborne

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