Hormel Foods Corp. (NYSE:HRL) – Equities research analysts at Jefferies Group cut their Q2 2017 EPS estimates for Hormel Foods Corp. in a note issued to investors on Monday. Jefferies Group analyst A. Jagdale now anticipates that the firm will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.41. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Hormel Foods Corp.’s Q3 2017 earnings at $0.34 EPS and FY2019 earnings at $1.47 EPS.

Several other brokerages have also commented on HRL. Vetr lowered Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a report on Monday, October 10th. Oppenheimer Holdings Inc. started coverage on Hormel Foods Corp. in a report on Friday, September 16th. They set a “market perform” rating and a $39.00 price objective for the company. Edward Jones upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Deutsche Bank AG reiterated a “hold” rating and set a $38.00 price objective on shares of Hormel Foods Corp. in a report on Tuesday, August 16th. Finally, Zacks Investment Research upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $40.10.

Earnings History and Estimates for Hormel Foods Corp. (NYSE:HRL)

Hormel Foods Corp. (NYSE:HRL) traded down 0.55% during mid-day trading on Wednesday, reaching $38.06. The company’s stock had a trading volume of 1,290,205 shares. The stock has a 50-day moving average price of $37.54 and a 200-day moving average price of $37.26. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 24.71 and a beta of 0.57. Hormel Foods Corp. has a one year low of $32.92 and a one year high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The business earned $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. Hormel Foods Corp.’s revenue for the quarter was up 5.2% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. raised its position in Hormel Foods Corp. by 12.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,704,019 shares of the company’s stock worth $62,369,000 after buying an additional 194,459 shares during the last quarter. Geode Capital Management LLC raised its position in Hormel Foods Corp. by 116.5% in the first quarter. Geode Capital Management LLC now owns 2,345,955 shares of the company’s stock worth $101,243,000 after buying an additional 1,262,153 shares during the last quarter. Legal & General Group Plc raised its position in Hormel Foods Corp. by 89.5% in the first quarter. Legal & General Group Plc now owns 1,160,357 shares of the company’s stock worth $50,177,000 after buying an additional 548,017 shares during the last quarter. UBS Group AG raised its position in Hormel Foods Corp. by 58.8% in the first quarter. UBS Group AG now owns 645,597 shares of the company’s stock worth $27,916,000 after buying an additional 239,127 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Hormel Foods Corp. by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 230,931 shares of the company’s stock worth $8,453,000 after buying an additional 2,805 shares during the last quarter. Institutional investors and hedge funds own 34.10% of the company’s stock.

In other Hormel Foods Corp. news, insider Steven G. Binder sold 12,000 shares of Hormel Foods Corp. stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $37.98, for a total transaction of $455,760.00. Following the completion of the transaction, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian Dean Johnson sold 3,500 shares of Hormel Foods Corp. stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the transaction, the vice president now owns 26,119 shares of the company’s stock, valued at approximately $992,522. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Monday, October 24th will be paid a $0.145 dividend. The ex-dividend date is Thursday, October 20th. This represents a $0.58 dividend on an annualized basis and a yield of 1.52%. Hormel Foods Corp.’s dividend payout ratio (DPR) is 37.79%.

About Hormel Foods Corp.

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