Equities research analysts expect Hormel Foods Corp (NYSE:HRL) to report earnings of $0.46 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Hormel Foods’ earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.42. Hormel Foods posted earnings per share of $0.41 during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.2%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, November 20th.
According to Zacks, analysts expect that Hormel Foods will report full year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.69 to $1.75. For the next year, analysts anticipate that the firm will report earnings of $1.86 per share, with EPS estimates ranging from $1.72 to $1.99. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year.
Several research firms have issued reports on HRL. Vertical Group lowered Hormel Foods from a “hold” rating to a “sell” rating in a research note on Tuesday. They noted that the move was a valuation call. Piper Jaffray Companies set a $50.00 price target on Hormel Foods and gave the stock a “buy” rating in a report on Tuesday. BMO Capital Markets downgraded Hormel Foods from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $38.00 to $44.00 in a report on Monday, September 17th. They noted that the move was a valuation call. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Finally, JPMorgan Chase & Co. started coverage on Hormel Foods in a report on Friday, September 28th. They issued a “neutral” rating and a $41.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Hormel Foods currently has a consensus rating of “Hold” and an average price target of $39.67.
In related news, Director Dakota A. Pippins sold 1,750 shares of Hormel Foods stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $39.59, for a total transaction of $69,282.50. Following the completion of the sale, the director now owns 91,797 shares of the company’s stock, valued at $3,634,243.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James P. Snee sold 21,923 shares of Hormel Foods stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total value of $829,785.55. Following the sale, the chairman now directly owns 49,326 shares of the company’s stock, valued at approximately $1,866,989.10. The disclosure for this sale can be found here. In the last three months, insiders sold 138,632 shares of company stock valued at $5,556,981. Corporate insiders own 3.54% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HRL. Sapphire Star Partners LP acquired a new stake in shares of Hormel Foods during the third quarter worth about $102,000. Piedmont Investment Advisors LLC acquired a new position in Hormel Foods in the second quarter valued at approximately $118,000. Fort L.P. acquired a new position in Hormel Foods in the second quarter valued at approximately $125,000. IMS Capital Management acquired a new position in Hormel Foods in the second quarter valued at approximately $130,000. Finally, Dupont Capital Management Corp acquired a new position in Hormel Foods in the second quarter valued at approximately $135,000. 41.95% of the stock is owned by hedge funds and other institutional investors.
HRL traded up $0.48 on Friday, hitting $45.02. The company had a trading volume of 1,849,093 shares, compared to its average volume of 3,343,398. Hormel Foods has a 12-month low of $31.71 and a 12-month high of $45.13. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.69 and a quick ratio of 0.78. The firm has a market capitalization of $23.53 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 22nd will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, October 19th. Hormel Foods’s dividend payout ratio is presently 47.77%.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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