Hormel Foods Corp. (NYSE:HRL) – Equities researchers at Jefferies Group upped their FY2016 EPS estimates for Hormel Foods Corp. in a research note issued to investors on Monday. Jefferies Group analyst A. Jagdale now forecasts that the brokerage will earn $1.66 per share for the year, up from their prior estimate of $1.62. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Hormel Foods Corp.’s Q4 2016 earnings at $0.46 EPS, Q1 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.72 EPS and FY2018 earnings at $1.40 EPS.

Other equities research analysts also recently issued research reports about the company. Edward Jones raised Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Zacks Investment Research raised Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday, August 23rd. Vetr downgraded Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 target price for the company. in a research report on Wednesday, September 28th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $38.00 target price on shares of Hormel Foods Corp. in a research report on Tuesday, August 16th. Finally, Oppenheimer Holdings Inc. initiated coverage on Hormel Foods Corp. in a research report on Friday, September 16th. They issued a “market perform” rating and a $39.00 target price for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Hormel Foods Corp. currently has a consensus 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) opened at 38.27 on Tuesday. Hormel Foods Corp. has a 1-year low of $32.92 and a 1-year high of $45.72. The company’s 50-day moving average price is $37.54 and its 200-day moving average price is $37.26. The stock has a market cap of $20.25 billion, a P/E ratio of 24.85 and a beta of 0.57.

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, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS.

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Hormel Foods Corp. by 32.8% in the second quarter. Van ECK Associates Corp now owns 2,734 shares of the company’s stock worth $100,000 after buying an additional 676 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock worth $101,000 after buying an additional 100 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Hormel Foods Corp. by 192.9% in the second quarter. Global X Management Co. LLC now owns 2,794 shares of the company’s stock worth $102,000 after buying an additional 1,840 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Hormel Foods Corp. by 285.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,380 shares of the company’s stock worth $124,000 after buying an additional 2,504 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Hormel Foods Corp. by 40.0% in the second quarter. Huntington National Bank now owns 3,500 shares of the company’s stock worth $128,000 after buying an additional 1,000 shares during the last quarter. 34.10% of the stock is owned by hedge funds and other institutional investors.

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

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

Hormel Foods Corp. Company Profile

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