Suntech (STP) (COL) (EGO) (HRL) (IHG) (LNCR) (PEG) Downgraded

Suntech Power (NYSE: STP), Rockwell Collins (NYSE: COL), Eldorado Gold Co. (NYSE: EGO), Hormel Foods Co. (NYSE: HRL), Intercontinental Hotels Group (NYSE: IHG), Lincare (NASDAQ: LNCR) and Public Service Enterprise Group Inc. (NYSE: PEG) downgraded by analysts.

Suntech Power (STP) was downgraded by Ardour Capital from a “Hold” rating to a “Sell” rating. They have a price target of $3.00 on the company, down from $7.50.

Rockwell Collins (COL) was downgraded by Wedbush from an “Outperform” rating to a “Neutral” rating. They have a price target of $53.00 on the company, down from $71.00.

Eldorado Gold Co. (EGO) was downgraded by Macquarie from a “Neutral” rating to an “Underperform” rating.

Hormel Foods Co. (HRL) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating.

Intercontinental Hotels Group (IHG) was downgraded by Credit Suisse (NYSE:CS) from an “Outperform” rating to a “Neutral” rating.

Lincare (LNCR) was downgraded by Citigroup (NYSE:C) from a “Buy” rating to a “Hold” rating.

Public Service Enterprise Group Inc. (PEG) was downgraded by UBS AG (NYSE:UBS) from a “Buy” rating to a “Neutral” rating. They have a price target of $33.00 on the company, down from $35.00.

Hormel (HRL) (GGP) (HMA) (IFNNY) (IN) Downgraded

Hormel Foods Co. (NYSE: HRL), General Growth Properties, Inc (NYSE: GGP), Health Management Associates (NYSE: HMA), Infineon Technologies AG (NASDAQ: IFNNY) and Intermec Inc. (NYSE: IN) downgraded by analysts.

General Growth Properties, Inc. (GGP) was downgraded by RBC Capital from an “Outperform” rating to a “Sector Perform” rating.

Health Management Associates (HMA) was downgraded by CRT Capital to a “Buy” rating.

Hormel Foods Co. (HRL) was downgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Sell” rating.

Infineon Technologies AG (IFNNY) was downgraded by WestLB from a “Buy” rating to a “Neutral” rating.

Intermec Inc. (IN) was downgraded by Avian from a “Positive” rating to a “Neutral” rating.

Dividend Yields for (BF-B) (HRL) (ADM) (MJN) (TSN)

Indicated dividend yields for Standard & Poor's 500 Index companies Brown-Forman Corp (BF-B), Hormel Foods Corp (HRL), Archer-Daniels-Midland Co (ADM), Mead Johnson Nutrition Co (MJN) and Tyson Foods Inc (TSN) .

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Brown-Forman Corp (BF-B) has a dividend yield of 1.78 percent on a declared dividend of $0.32. The payout ratio is 136.1 percent.

Hormel Foods Corp (HRL) has a dividend yield of 1.74 percent on a declared dividend of $0.13. The payout ratio is 22.8 percent.

Archer-Daniels-Midland Co (ADM) has a dividend yield of 1.73 percent on a declared dividend of $0.16. The payout ratio is 13.1 percent.

Mead Johnson Nutrition Co (MJN) has a dividend yield of 1.55 percent on a declared dividend of $0.26. The payout ratio is 36.4 percent.


Tyson Foods Inc (TSN) has a dividend yield of 0.80 percent on a declared dividend of $0.04. The payout ratio is 5.0 percent.

Hormel Foods (NYSE:HRL) Should Benefit from Pork Packaging Margins

Hormel Foods (NYSE:HRL) appears positioned to take advantage of the high pork packaging margins now part of the industry narrative.

For the overall sector, Jefferies (NYSE:JEF) noted three main drivers:

"1) low cold storage levels, 2) a favorable supply/demand balance, and 3) favorable production lead indicators – including continued reductions in both the size of the breeding herd and number of sows farrowed."

Jefferies EPS/revenue estimates for full year 2011 and full year 2012 are $3.22/$7.5 billion and $3.44/$7.7 billion.

Jefferies initiated coverage today on Hormel Foods with a "Hold" rating. Hormel was trading at $51.17, down $0.44, or 0.86 percent, as of 2:04 PM EST. They have a price target on them of $56.