Hormel Foods Corp. (NYSE:HRL) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.68-1.74 for the period, compared to the Thomson Reuters consensus estimate of $1.71.

A number of research firms recently commented on HRL. Zacks Investment Research raised Hormel Foods Corp. from a hold rating to a buy rating and set a $40.00 price target on the stock in a report on Monday. Vetr cut Hormel Foods Corp. from a strong-buy rating to a buy rating and set a $42.00 price objective on the stock. in a report on Monday, October 10th. Credit Suisse Group AG reaffirmed an outperform rating and set a $43.00 price objective on shares of Hormel Foods Corp. in a report on Tuesday, September 27th. Oppenheimer Holdings Inc. initiated coverage on Hormel Foods Corp. in a report on Friday, September 16th. They set a market perform rating and a $39.00 price objective on the stock. Finally, Edward Jones raised Hormel Foods Corp. from a hold rating to a buy rating in a report on Friday, September 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $40.33.

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

Shares of Hormel Foods Corp. (NYSE:HRL) opened at 34.94 on Tuesday. The firm has a 50-day moving average price of $37.16 and a 200-day moving average price of $36.78. Hormel Foods Corp. has a 1-year low of $33.70 and a 1-year high of $45.72. The stock has a market capitalization of $18.49 billion, a PE ratio of 22.69 and a beta of 0.52.

Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The firm earned $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Hormel Foods Corp. will post $1.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.95%. This is a boost from Hormel Foods Corp.’s previous quarterly dividend of $0.15. Hormel Foods Corp.’s payout ratio is presently 37.79%.

In related news, VP Brian Dean Johnson sold 3,500 shares of the business’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 approximately $992,522. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven G. Binder sold 12,000 shares of the business’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $37.98, for a total value of $455,760.00. Following the transaction, the insider now directly owns 41,622 shares of the company’s stock, valued at $1,580,803.56. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRL. State Street Corp boosted its position in Hormel Foods Corp. by 0.8% in the second quarter. State Street Corp now owns 14,725,146 shares of the company’s stock valued at $538,944,000 after buying an additional 109,675 shares in the last quarter. Janus Capital Management LLC boosted its position in Hormel Foods Corp. by 29.0% in the second quarter. Janus Capital Management LLC now owns 5,179,159 shares of the company’s stock valued at $189,557,000 after buying an additional 1,163,942 shares in the last quarter. BlackRock Fund Advisors boosted its position in Hormel Foods Corp. by 5.1% in the second quarter. BlackRock Fund Advisors now owns 4,834,016 shares of the company’s stock valued at $176,925,000 after buying an additional 233,925 shares in the last quarter. APG Asset Management N.V. boosted its position in Hormel Foods Corp. by 11.0% in the second quarter. APG Asset Management N.V. now owns 3,203,234 shares of the company’s stock valued at $117,238,000 after buying an additional 318,300 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Hormel Foods Corp. by 5.7% in the second quarter. BlackRock Group LTD now owns 2,940,325 shares of the company’s stock valued at $107,615,000 after buying an additional 159,095 shares in the last quarter. 34.56% of the stock is owned by hedge funds and other institutional investors.

About Hormel Foods Corp.

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