Hormel Foods (NYSE:HRL – Get Free Report) released its earnings results on Wednesday. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05, FiscalAI reports. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%.
Hormel Foods Stock Up 0.5%
HRL stock opened at $21.00 on Thursday. The firm’s fifty day simple moving average is $21.39 and its 200-day simple moving average is $22.96. The company has a market capitalization of $11.56 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.87 and a beta of 0.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.66 and a quick ratio of 1.37. Hormel Foods has a 12 month low of $19.70 and a 12 month high of $31.86.
Hormel Foods Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio is 131.46%.
Analyst Ratings Changes
Read Our Latest Analysis on HRL
Institutional Trading of Hormel Foods
Several large investors have recently made changes to their positions in HRL. MUFG Securities EMEA plc purchased a new stake in shares of Hormel Foods in the second quarter worth about $26,000. Strive Financial Group LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth about $27,000. Motiv8 Investments LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth about $28,000. Parkside Financial Bank & Trust boosted its stake in shares of Hormel Foods by 354.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after buying an additional 1,025 shares during the last quarter. Finally, Ankerstar Wealth LLC purchased a new stake in Hormel Foods during the fourth quarter worth $35,000. 40.99% of the stock is owned by hedge funds and other institutional investors.
Hormel Foods Company Profile
Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.
Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.
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