Hormel Foods Corporation (NYSE:HRL) – Equities research analysts at KeyCorp issued their FY2017 EPS estimates for Hormel Foods Corporation in a report released on Monday. KeyCorp analyst D. Carlson anticipates that the company will earn $1.56 per share for the year. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Hormel Foods Corporation’s Q4 2017 earnings at $0.39 EPS and FY2018 earnings at $1.65 EPS.

A number of other research analysts have also issued reports on the company. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating for the company. BidaskClub lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC reduced their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. Finally, Stephens reduced their price target on Hormel Foods Corporation from $50.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus price target of $35.50.

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Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $0.36 earnings per share. Hormel Foods Corporation’s revenue for the quarter was down 4.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Monday, October 23rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio is 41.98%.

In other news, insider Steven G. Binder sold 15,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total transaction of $468,450.00. Following the completion of the sale, the insider now directly owns 26,838 shares of the company’s stock, valued at $838,150.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James N. Sheehan sold 35,704 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total value of $1,102,182.48. Following the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $1,852,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,518 shares of company stock valued at $6,132,366. 3.54% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its position in Hormel Foods Corporation by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the period. ING Groep NV raised its position in Hormel Foods Corporation by 0.4% during the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock valued at $471,000 after buying an additional 53 shares during the period. Dynamic Advisors Solutions LLC raised its position in Hormel Foods Corporation by 0.6% during the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the period. FineMark National Bank & Trust raised its position in Hormel Foods Corporation by 0.8% during the second quarter. FineMark National Bank & Trust now owns 10,506 shares of the company’s stock valued at $358,000 after buying an additional 80 shares during the period. Finally, Gemmer Asset Management LLC raised its position in Hormel Foods Corporation by 0.5% during the second quarter. Gemmer Asset Management LLC now owns 16,682 shares of the company’s stock valued at $569,000 after buying an additional 81 shares during the period. 38.06% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Corporation Company Profile

Earnings History and Estimates for Hormel Foods Corporation (NYSE:HRL)

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