Brokerages predict that Hormel Foods Corp (NYSE:HRL) will report $0.43 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Hormel Foods’ earnings. The highest EPS estimate is $0.46 and the lowest is $0.41. Hormel Foods reported earnings per share of $0.44 during the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 21st.
On average, analysts expect that Hormel Foods will report full year earnings of $1.84 per share for the current year, with EPS estimates ranging from $1.80 to $1.88. For the next fiscal year, analysts anticipate that the company will post earnings of $1.98 per share, with EPS estimates ranging from $1.85 to $2.10. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Tuesday, November 20th. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Hormel Foods had a return on equity of 18.01% and a net margin of 10.60%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS.
HRL has been the topic of a number of recent research reports. Jefferies Financial Group lowered Hormel Foods from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a research report on Tuesday, November 27th. Vertical Group lowered Hormel Foods from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Credit Suisse Group set a $39.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Wednesday, November 21st. Piper Jaffray Companies set a $50.00 price objective on Hormel Foods and gave the company a “buy” rating in a research report on Tuesday, November 6th. Finally, Barclays set a $40.00 price objective on Hormel Foods and gave the company a “hold” rating in a research report on Wednesday, November 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $40.56.
HRL traded up $0.15 during mid-day trading on Monday, reaching $43.20. The stock had a trading volume of 5,896,743 shares, compared to its average volume of 2,915,215. The firm has a market capitalization of $23.09 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.84 and a beta of 0.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 1.80. Hormel Foods has a 52 week low of $31.83 and a 52 week high of $46.26.
The business also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Monday, January 14th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.19. Hormel Foods’s dividend payout ratio is 44.44%.
In other news, CFO James N. Sheehan sold 60,000 shares of the stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $44.93, for a total value of $2,695,800.00. Following the transaction, the chief financial officer now owns 60,000 shares of the company’s stock, valued at approximately $2,695,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elsa A. Murano sold 5,808 shares of the stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $42.00, for a total value of $243,936.00. Following the completion of the transaction, the director now directly owns 98,565 shares in the company, valued at approximately $4,139,730. The disclosure for this sale can be found here. In the last three months, insiders sold 208,655 shares of company stock worth $9,414,670. 1.11% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Enlightenment Research LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $30,000. Acima Private Wealth LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $34,000. Bremer Trust National Association acquired a new position in shares of Hormel Foods in the 4th quarter valued at $43,000. We Are One Seven LLC acquired a new position in shares of Hormel Foods in the 4th quarter valued at $45,000. Finally, FTB Advisors Inc. lifted its stake in shares of Hormel Foods by 62.7% in the 4th quarter. FTB Advisors Inc. now owns 1,124 shares of the company’s stock valued at $48,000 after purchasing an additional 433 shares during the period. 42.59% of the stock is currently owned by institutional investors.
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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