Hormel Foods Corporation (NYSE:HRL) issued its quarterly earnings results on Tuesday. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01, Bloomberg Earnings reports. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. Hormel Foods Corporation updated its FY18 guidance to $1.60-1.70 EPS.
Shares of Hormel Foods Corporation (NYSE:HRL) opened at $33.40 on Tuesday. Hormel Foods Corporation has a 1 year low of $29.75 and a 1 year high of $37.97. The company has a quick ratio of 1.37, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $17,630.00, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.17 and a beta of 0.59.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were given a $0.17 dividend. The ex-dividend date was Friday, October 20th. This represents a $0.68 dividend on an annualized basis and a yield of 2.04%. Hormel Foods Corporation’s dividend payout ratio is currently 41.98%.
HRL has been the topic of a number of analyst reports. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research report on Saturday, August 26th. They set an “outperform” rating on the stock. Morgan Stanley initiated coverage on Hormel Foods Corporation in a research report on Friday, November 3rd. They set an “underweight” rating and a $26.00 price objective on the stock. KeyCorp initiated coverage on Hormel Foods Corporation in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 21st. Finally, BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Hormel Foods Corporation has a consensus rating of “Hold” and an average target price of $34.44.
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In other Hormel Foods Corporation news, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction on Friday, October 13th. The stock was sold at an average price of $31.81, for a total value of $789,333.34. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven G. Binder sold 15,000 shares of Hormel Foods Corporation stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total value of $480,000.00. Following the completion of the sale, the insider now owns 26,838 shares in the company, valued at approximately $858,816. The disclosure for this sale can be found here. Insiders sold 194,518 shares of company stock worth $6,132,366 in the last 90 days. Company insiders own 3.54% of the company’s stock.
About Hormel Foods Corporation
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