Brokers Offer Predictions for Hormel Foods Corp’s Q3 2017 Earnings (HRL)
Hormel Foods Corp (NYSE:HRL) – Stock analysts at Oppenheimer Holdings boosted their Q3 2017 earnings estimates for shares of Hormel Foods Corp in a report issued on Thursday. Oppenheimer Holdings analyst R. Parikh now anticipates that the company will post earnings per share of $0.37 for the quarter, up from their prior forecast of $0.36. Oppenheimer Holdings also issued estimates for Hormel Foods Corp’s Q4 2017 earnings at $0.45 EPS.
Other equities research analysts have also issued reports about the company. Credit Suisse Group AG set a $41.00 price objective on Hormel Foods Corp and gave the company a “buy” rating in a research note on Saturday, February 25th. Zacks Investment Research downgraded Hormel Foods Corp from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Hormel Foods Corp in a report on Thursday, March 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $40.75.
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Shares of Hormel Foods Corp (NYSE:HRL) opened at 33.13 on Friday. Hormel Foods Corp has a 52-week low of $32.94 and a 52-week high of $40.00. The company has a market cap of $17.52 billion, a P/E ratio of 20.08 and a beta of 0.49. The company has a 50-day moving average price of $34.60 and a 200-day moving average price of $35.19.
Hormel Foods Corp (NYSE:HRL) last released its earnings results on Thursday, May 25th. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.22 billion. Hormel Foods Corp had a return on equity of 20.56% and a net margin of 9.35%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 17th will be issued a $0.17 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.05%. Hormel Foods Corp’s payout ratio is 41.46%.
In other Hormel Foods Corp news, Director Elsa A. Murano sold 7,500 shares of the firm’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $34.50, for a total transaction of $258,750.00. Following the transaction, the director now directly owns 74,991 shares in the company, valued at approximately $2,587,189.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dakota A. Pippins sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $34.17, for a total value of $102,510.00. Following the transaction, the director now owns 96,166 shares in the company, valued at $3,285,992.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,787 shares of company stock worth $2,955,553. Company insiders own 3.54% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advantus Capital Management Inc increased its position in shares of Hormel Foods Corp by 1.0% in the third quarter. Advantus Capital Management Inc now owns 26,826 shares of the company’s stock worth $1,018,000 after buying an additional 260 shares in the last quarter. United Services Automobile Association increased its position in shares of Hormel Foods Corp by 26.4% in the third quarter. United Services Automobile Association now owns 105,316 shares of the company’s stock worth $3,995,000 after buying an additional 21,999 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Hormel Foods Corp by 294.2% in the third quarter. HighTower Advisors LLC now owns 22,866 shares of the company’s stock worth $866,000 after buying an additional 17,066 shares in the last quarter. Mairs & Power INC increased its position in shares of Hormel Foods Corp by 2.7% in the third quarter. Mairs & Power INC now owns 4,318,895 shares of the company’s stock worth $163,816,000 after buying an additional 115,335 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hormel Foods Corp by 45.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,016 shares of the company’s stock worth $2,694,000 after buying an additional 22,200 shares in the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.
Hormel Foods Corp Company Profile
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