Wall Street analysts forecast that Hormel Foods Corp (NYSE:HRL) will report earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Hormel Foods’ earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.41. Hormel Foods posted earnings per share of $0.44 during the same quarter last year, which indicates a negative year over year growth rate of 2.3%. The business is expected to issue its next quarterly earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Hormel Foods will report full year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.80 to $1.99. For the next financial year, analysts anticipate that the business will post earnings of $1.98 per share, with EPS estimates ranging from $1.85 to $2.10. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Hormel Foods.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 20th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. Hormel Foods had a net margin of 10.60% and a return on equity of 18.01%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the business posted $0.41 EPS. The business’s revenue was up 1.3% compared to the same quarter last year.
Several equities analysts recently issued reports on HRL shares. Jefferies Financial Group reiterated a “buy” rating and issued a $44.00 target price on shares of Hormel Foods in a research note on Wednesday, August 29th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. JPMorgan Chase & Co. started coverage on shares of Hormel Foods in a research note on Friday, September 28th. They issued a “neutral” rating and a $41.00 target price for the company. Buckingham Research boosted their target price on shares of Hormel Foods from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Finally, Vertical Group lowered shares of Hormel Foods from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.56.
In related news, insider Kevin L. Myers sold 2,734 shares of the business’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $39.90, for a total value of $109,086.60. Following the completion of the sale, the insider now owns 8,556 shares of the company’s stock, valued at approximately $341,384.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dakota A. Pippins sold 1,750 shares of the business’s stock in a transaction on 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 directly owns 91,797 shares of the company’s stock, valued at approximately $3,634,243.23. The disclosure for this sale can be found here. In the last three months, insiders sold 218,161 shares of company stock valued at $9,563,359. 3.54% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HRL. BNP Paribas Arbitrage SA grew its holdings in shares of Hormel Foods by 27.8% during the second quarter. BNP Paribas Arbitrage SA now owns 96,031 shares of the company’s stock worth $3,573,000 after buying an additional 20,885 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Hormel Foods during the second quarter worth $118,000. Dupont Capital Management Corp purchased a new stake in shares of Hormel Foods during the second quarter worth $135,000. Aperio Group LLC grew its holdings in shares of Hormel Foods by 47.0% during the second quarter. Aperio Group LLC now owns 513,943 shares of the company’s stock worth $19,124,000 after buying an additional 164,413 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hormel Foods by 2.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 247,807 shares of the company’s stock worth $9,221,000 after buying an additional 6,945 shares in the last quarter. 42.28% of the stock is owned by institutional investors.
Shares of HRL traded down $0.60 during trading hours on Monday, hitting $44.34. The stock had a trading volume of 2,353,248 shares, compared to its average volume of 3,355,598. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.80 and a quick ratio of 0.95. Hormel Foods has a fifty-two week low of $31.71 and a fifty-two week high of $46.26. The stock has a market cap of $23.96 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.94 and a beta of 0.13.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, January 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, January 11th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.19. Hormel Foods’s payout ratio is presently 39.68%.
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.
Further Reading: When is a capital gain realized?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.