Brokerages forecast that Hormel Foods Corp (NYSE:HRL) will report earnings per share of $0.45 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Hormel Foods’ earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.46. Hormel Foods reported earnings of $0.44 per share during the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The business is scheduled to report 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 year, with EPS estimates ranging from $1.68 to $1.81. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.85 per share, with EPS estimates ranging from $1.74 to $2.02. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Hormel Foods.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, November 26th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Hormel Foods had a return on equity of 16.14% and a net margin of 10.31%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year.
A number of equities analysts recently issued reports on HRL shares. Bank of America began coverage on shares of Hormel Foods in a research report on Friday, October 25th. They set an “underperform” rating and a $40.00 price objective for the company. Stephens reissued a “hold” rating and issued a $43.00 price objective (up from $37.00) on shares of Hormel Foods in a research note on Wednesday, November 27th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a report on Wednesday, November 27th. ValuEngine raised shares of Hormel Foods from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, BMO Capital Markets set a $44.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.90.
In other Hormel Foods news, SVP Kevin L. Myers sold 2,171 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.00, for a total value of $95,524.00. Following the completion of the transaction, the senior vice president now owns 15,841 shares of the company’s stock, valued at approximately $697,004. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Howse Steve 226,215 shares of Hormel Foods stock in a transaction that occurred on Friday, October 18th. Insiders sold 115,579 shares of company stock valued at $5,050,253 in the last 90 days. Company insiders own 1.11% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HRL. NumerixS Investment Technologies Inc bought a new position in Hormel Foods in the second quarter valued at about $669,000. Achmea Investment Management B.V. boosted its holdings in Hormel Foods by 15.6% in the 2nd quarter. Achmea Investment Management B.V. now owns 127,036 shares of the company’s stock worth $5,151,000 after buying an additional 17,172 shares during the period. First Allied Advisory Services Inc. boosted its holdings in Hormel Foods by 2.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 59,288 shares of the company’s stock worth $2,404,000 after buying an additional 1,313 shares during the period. Carlson Capital Management increased its stake in Hormel Foods by 4.9% in the 3rd quarter. Carlson Capital Management now owns 9,734 shares of the company’s stock worth $426,000 after buying an additional 451 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Hormel Foods by 389.5% during the second quarter. First Trust Advisors LP now owns 1,207,807 shares of the company’s stock valued at $48,964,000 after acquiring an additional 961,066 shares during the period. 43.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:HRL traded down $0.29 on Wednesday, reaching $45.25. 1,497,129 shares of the company’s stock were exchanged, compared to its average volume of 2,269,479. The company has a market capitalization of $24.16 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 4.21 and a beta of 0.07. Hormel Foods has a twelve month low of $37.00 and a twelve month high of $45.70. The company has a current ratio of 2.14, a quick ratio of 1.19 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $42.03 and a 200-day moving average of $41.73.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, January 13th will be issued a $0.2325 dividend. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.93 dividend on an annualized basis and a dividend yield of 2.06%. Hormel Foods’s dividend payout ratio (DPR) is presently 48.28%.
About Hormel Foods
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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