Hormel Foods Corp. (NYSE:HRL) – Equities researchers at Oppenheimer Holdings issued their Q1 2017 earnings estimates for shares of Hormel Foods Corp. in a research note issued on Monday. Oppenheimer Holdings analyst R. Parikh anticipates that the brokerage will earn $0.46 per share for the quarter. Oppenheimer Holdings has a “Market Perform” rating and a $39.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Hormel Foods Corp.’s Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.36 EPS, Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.68 EPS and FY2018 earnings at $1.80 EPS.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Tuesday, November 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.01. The firm earned $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS.

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

HRL has been the topic of several other reports. Zacks Investment Research downgraded shares of Hormel Foods Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Vetr raised shares of Hormel Foods Corp. from a “buy” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, October 4th. BMO Capital Markets raised shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Friday, August 19th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $43.00 target price on shares of Hormel Foods Corp. in a research note on Tuesday, September 27th. Finally, Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $40.11.

Shares of Hormel Foods Corp. (NYSE:HRL) traded down 1.2089% on Wednesday, reaching $35.4265. 1,901,904 shares of the company traded hands. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 23.0042 and a beta of 0.52. Hormel Foods Corp. has a 1-year low of $33.70 and a 1-year high of $45.72. The company has a 50-day moving average of $37.10 and a 200-day moving average of $36.76.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 17th will be issued a $0.17 dividend. This is a boost from Hormel Foods Corp.’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $0.68 annualized dividend and a dividend yield of 1.90%. Hormel Foods Corp.’s dividend payout ratio is presently 37.79%.

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 sale, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 shares were sold at an average price of $38.00, for a total transaction of $133,000.00. Following the completion of the sale, 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 currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC increased its stake in Hormel Foods Corp. by 115.2% in the first quarter. Nuveen Asset Management LLC now owns 19,336 shares of the company’s stock valued at $836,000 after buying an additional 10,351 shares during the period. Envestnet Asset Management Inc. increased its stake in Hormel Foods Corp. by 147.3% in the first quarter. Envestnet Asset Management Inc. now owns 42,639 shares of the company’s stock valued at $1,844,000 after buying an additional 25,394 shares during the period. A.R.T. Advisors LLC increased its stake in Hormel Foods Corp. by 116.2% in the first quarter. A.R.T. Advisors LLC now owns 46,732 shares of the company’s stock valued at $2,020,000 after buying an additional 25,116 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Hormel Foods Corp. by 97.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 153,083 shares of the company’s stock valued at $6,619,000 after buying an additional 75,622 shares during the period. Finally, LPL Financial LLC increased its stake in Hormel Foods Corp. by 117.5% in the first quarter. LPL Financial LLC now owns 72,346 shares of the company’s stock valued at $3,056,000 after buying an additional 39,089 shares during the period. Hedge funds and other institutional investors own 34.56% of the company’s stock.

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About Hormel Foods Corp.

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