Wall Street analysts forecast that Hormel (NYSE:HRL) will post earnings of $0.45 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hormel’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.49. Hormel posted earnings of $0.39 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.4%. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, May 24th.
According to Zacks, analysts expect that Hormel will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.69 to $1.84. For the next financial year, analysts expect that the business will report earnings of $1.87 per share, with EPS estimates ranging from $1.70 to $1.97. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Hormel.
Hormel (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. Hormel had a net margin of 9.92% and a return on equity of 17.44%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Hormel’s revenue for the quarter was up 2.1% compared to the same quarter last year.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Hormel from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Jefferies Group reaffirmed a “buy” rating on shares of Hormel in a report on Thursday, February 22nd. Barclays reaffirmed a “buy” rating and issued a $38.00 price target (down from $40.00) on shares of Hormel in a report on Friday, February 23rd. Piper Jaffray reaffirmed a “buy” rating and issued a $39.00 price target on shares of Hormel in a report on Tuesday, February 27th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Hormel in a report on Sunday, February 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.60.
NYSE HRL opened at $36.38 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.74 and a current ratio of 1.47. Hormel has a 12-month low of $35.86 and a 12-month high of $36.22. The firm has a market capitalization of $19.04 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.20 and a beta of 0.43.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 16th were issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, April 13th. Hormel’s dividend payout ratio (DPR) is presently 47.77%.
In other news, insider Larry L. Vorpahl sold 180,000 shares of the business’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $34.21, for a total transaction of $6,157,800.00. Following the sale, the insider now directly owns 282,956 shares of the company’s stock, valued at $9,679,924.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luis G. Marconi sold 1,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $33.88, for a total transaction of $33,880.00. Following the sale, the insider now directly owns 21,532 shares in the company, valued at $729,504.16. The disclosure for this sale can be found here. Insiders have sold 281,976 shares of company stock worth $9,718,072 over the last three months. Corporate insiders own 3.54% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Hormel by 1.8% during the fourth quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock valued at $739,714,000 after buying an additional 367,255 shares during the last quarter. Fairpointe Capital LLC grew its holdings in shares of Hormel by 0.3% during the fourth quarter. Fairpointe Capital LLC now owns 4,684,543 shares of the company’s stock valued at $170,471,000 after buying an additional 16,002 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Hormel by 14.1% during the first quarter. Champlain Investment Partners LLC now owns 4,202,680 shares of the company’s stock valued at $144,236,000 after buying an additional 518,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Hormel by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,229,951 shares of the company’s stock valued at $117,316,000 after buying an additional 83,024 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Hormel by 10.8% during the fourth quarter. APG Asset Management N.V. now owns 3,046,252 shares of the company’s stock valued at $92,316,000 after buying an additional 295,914 shares during the last quarter. 39.40% of the stock is currently owned by hedge funds and other institutional investors.
Hormel 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.
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