Wall Street analysts expect Hormel Foods Corp (NYSE:HRL) to announce earnings of $0.45 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Hormel Foods’ earnings. The lowest EPS estimate is $0.45 and the highest is $0.46. Hormel Foods reported earnings per share of $0.44 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is expected to issue its next earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Hormel Foods will report full-year earnings of $1.75 per share for the current financial year, with EPS estimates ranging from $1.68 to $1.81. For the next financial year, analysts expect that the company will post earnings of $1.85 per share, with EPS estimates ranging from $1.74 to $2.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Tuesday, November 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.51 billion. Hormel Foods had a return on equity of 16.14% and a net margin of 10.31%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS.
A number of brokerages have recently issued reports on HRL. ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a research note on Wednesday, November 27th. Bank of America started coverage on shares of Hormel Foods in a research note on Friday, October 25th. They issued an “underperform” rating and a $40.00 target price for the company. Stephens reaffirmed a “hold” rating and set a $43.00 price target (up from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. Finally, BMO Capital Markets set a $44.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $40.90.
In related news, insider Howse Steve 226,215 shares of the stock in a transaction on Friday, October 18th. Also, EVP Thomas R. Day sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the completion of the transaction, the executive vice president now owns 55,060 shares in the company, valued at $2,436,955.60. The disclosure for this sale can be found here. Insiders have sold 115,579 shares of company stock worth $5,050,253 over the last three months. Company insiders own 1.11% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in shares of Hormel Foods by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 175,653 shares of the company’s stock valued at $7,121,000 after purchasing an additional 3,859 shares during the period. Strs Ohio increased its holdings in Hormel Foods by 0.9% in the 2nd quarter. Strs Ohio now owns 65,621 shares of the company’s stock valued at $2,660,000 after buying an additional 606 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Hormel Foods in the 2nd quarter valued at approximately $81,000. Breiter Capital Management Inc. boosted its holdings in shares of Hormel Foods by 4.0% in the 2nd quarter. Breiter Capital Management Inc. now owns 12,574 shares of the company’s stock valued at $468,000 after purchasing an additional 485 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hormel Foods by 0.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock valued at $2,968,000 after buying an additional 299 shares in the last quarter. Institutional investors and hedge funds own 43.81% of the company’s stock.
NYSE HRL traded down $0.29 on Wednesday, reaching $45.25. The stock had a trading volume of 1,497,129 shares, compared to its average volume of 2,269,479. The stock has a market cap of $24.16 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.07. Hormel Foods has a 12-month low of $37.00 and a 12-month high of $45.70. The business’s 50-day moving average price is $42.03 and its 200 day moving average price is $41.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.19 and a current ratio of 2.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a $0.2325 dividend. The ex-dividend date of this dividend is Friday, January 10th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.21. This represents a $0.93 dividend on an annualized basis and a yield of 2.06%. Hormel Foods’s dividend payout ratio is currently 48.28%.
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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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