Hormel Foods Corp (NYSE:HRL) – Analysts at Jefferies Group boosted their Q2 2018 earnings per share (EPS) estimates for shares of Hormel Foods in a research report issued on Thursday. Jefferies Group analyst A. Jagdale now forecasts that the company will post earnings of $0.39 per share for the quarter, up from their previous estimate of $0.37. Jefferies Group has a “Hold” rating and a $34.00 price objective on the stock. Jefferies Group also issued estimates for Hormel Foods’ Q2 2019 earnings at $0.42 EPS and FY2021 earnings at $2.03 EPS.

HRL has been the subject of a number of other reports. BMO Capital Markets reissued a “buy” rating and issued a $38.00 price objective on shares of Hormel Foods in a research report on Monday, November 6th. Mizuho reissued a “hold” rating and issued a $33.00 price objective on shares of Hormel Foods in a research report on Wednesday, October 4th. Barclays decreased their price objective on shares of Hormel Foods from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, August 25th. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Finally, BidaskClub raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.50.

Hormel Foods (NYSE:HRL) opened at $36.77 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.91 and a quick ratio of 1.04. The firm has a market cap of $19,408.24, a PE ratio of 23.27, a price-to-earnings-growth ratio of 2.37 and a beta of 0.64. Hormel Foods has a 12-month low of $29.75 and a 12-month high of $37.97.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HRL. Fairpointe Capital LLC acquired a new stake in Hormel Foods during the second quarter worth about $113,723,000. Capital International Investors raised its stake in Hormel Foods by 28.4% during the third quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock worth $341,808,000 after acquiring an additional 2,350,000 shares during the period. Valueinvest Asset Management S.A. raised its stake in Hormel Foods by 29.2% during the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock worth $222,264,000 after acquiring an additional 1,563,700 shares during the period. Principal Financial Group Inc. raised its stake in Hormel Foods by 264.7% during the third quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock worth $48,387,000 after acquiring an additional 1,092,714 shares during the period. Finally, American Century Companies Inc. raised its stake in Hormel Foods by 44.2% during the third quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock worth $98,088,000 after acquiring an additional 936,053 shares during the period. Hedge funds and other institutional investors own 38.33% of the company’s stock.

In related news, insider Steven G. Binder sold 15,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $31.23, for a total transaction of $468,450.00. Following the sale, the insider now owns 26,838 shares in the company, valued at $838,150.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the sale, the insider now owns 887 shares in the company, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders have sold 278,932 shares of company stock worth $9,245,955 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be given a dividend of $0.1875 per share. This is a boost from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, January 12th. This represents a $0.75 annualized dividend and a dividend yield of 2.04%. Hormel Foods’s dividend payout ratio (DPR) is presently 43.04%.

ILLEGAL ACTIVITY NOTICE: This report was first reported by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/12/04/hormel-foods-corp-hrl-forecasted-to-post-q2-2018-earnings-of-0-39-per-share.html.

About Hormel Foods

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

Receive News & Ratings for Hormel Foods Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods Corp and related companies with MarketBeat.com's FREE daily email newsletter.