$0.39 EPS Expected for Hormel Foods Corporation (HRL) This Quarter
Wall Street analysts forecast that Hormel Foods Corporation (NYSE:HRL) will report earnings per share of $0.39 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Hormel Foods Corporation’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.38. Hormel Foods Corporation posted earnings per share of $0.45 in the same quarter last year, which would indicate a negative year over year growth rate of 13.3%. The firm is expected to report its next earnings results before the market opens on Tuesday, November 21st.
On average, analysts expect that Hormel Foods Corporation will report full year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.54 to $1.58. For the next fiscal year, analysts anticipate that the company will post earnings of $1.65 per share, with EPS estimates ranging from $1.51 to $1.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Hormel Foods Corporation.
Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business posted $0.36 EPS. Hormel Foods Corporation’s revenue was down 4.1% on a year-over-year basis.
Several equities research analysts have recently weighed in on the company. BidaskClub lowered Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Jefferies Group LLC set a $34.00 target price on Hormel Foods Corporation and gave the stock a “hold” rating in a research report on Sunday, October 29th. KeyCorp assumed coverage on Hormel Foods Corporation in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Finally, Morgan Stanley assumed coverage on Hormel Foods Corporation in a research report on Friday. They set an “underweight” rating and a $26.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $34.44.
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In other Hormel Foods Corporation news, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James N. Sheehan sold 35,704 shares of Hormel Foods Corporation stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total value of $1,102,182.48. Following the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 194,518 shares of company stock worth $6,132,366. 3.54% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Hormel Foods Corporation by 12.8% in the first quarter. Wellington Management Group LLP now owns 58,830 shares of the company’s stock valued at $2,037,000 after purchasing an additional 6,661 shares during the period. Teachers Advisors LLC increased its holdings in shares of Hormel Foods Corporation by 4.5% in the first quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock valued at $13,713,000 after purchasing an additional 16,944 shares during the period. Thrivent Financial For Lutherans increased its holdings in shares of Hormel Foods Corporation by 13.5% in the first quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the company’s stock valued at $400,000 after purchasing an additional 1,370 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Hormel Foods Corporation by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,336,211 shares of the company’s stock valued at $46,270,000 after purchasing an additional 200,661 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of Hormel Foods Corporation by 2.0% in the second quarter. Xact Kapitalforvaltning AB now owns 54,731 shares of the company’s stock valued at $1,867,000 after purchasing an additional 1,092 shares during the period. 38.06% of the stock is currently owned by institutional investors.
Shares of Hormel Foods Corporation (NYSE:HRL) traded down $0.19 during midday trading on Friday, hitting $31.32. The stock had a trading volume of 2,757,825 shares, compared to its average volume of 2,507,901. The company has a quick ratio of 1.37, a current ratio of 2.53 and a debt-to-equity ratio of 0.05. Hormel Foods Corporation has a 1-year low of $29.75 and a 1-year high of $38.35. The firm has a market cap of $16,531.57, a price-to-earnings ratio of 19.33, a PEG ratio of 2.04 and a beta of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, October 20th. Hormel Foods Corporation’s dividend payout ratio (DPR) is 41.98%.
About Hormel Foods Corporation
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