Equities research analysts expect that Hormel Foods Corp (NYSE:HRL) will report $2.56 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Hormel Foods’ earnings, with estimates ranging from $2.52 billion to $2.58 billion. Hormel Foods posted sales of $2.49 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.8%. The business is scheduled to report its next earnings results before the market opens on Tuesday, November 20th.

On average, analysts expect that Hormel Foods will report full year sales of $9.58 billion for the current year, with estimates ranging from $9.54 billion to $9.60 billion. For the next financial year, analysts expect that the business will post sales of $9.88 billion, with estimates ranging from $9.82 billion to $9.96 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Hormel Foods.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year.

A number of equities research analysts recently commented on the stock. BMO Capital Markets lowered shares of Hormel Foods from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $38.00 to $44.00 in a report on Monday, September 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Buckingham Research raised their price objective on shares of Hormel Foods from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. ValuEngine upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Finally, Vertical Group lowered shares of Hormel Foods from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and a consensus price target of $39.67.

Shares of NYSE:HRL traded up $0.62 during midday trading on Monday, reaching $45.46. 230,968 shares of the company were exchanged, compared to its average volume of 2,709,366. Hormel Foods has a fifty-two week low of $31.71 and a fifty-two week high of $45.66. The company has a quick ratio of 0.78, a current ratio of 1.69 and a debt-to-equity ratio of 0.12. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.93 and a beta of 0.14.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 22nd will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, October 19th. Hormel Foods’s payout ratio is 47.77%.

In related news, insider Steven J. Lykken sold 3,614 shares of Hormel Foods stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $38.93, for a total transaction of $140,693.02. Following the completion of the sale, the insider now owns 14,337 shares of the company’s stock, valued at approximately $558,139.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman James P. Snee sold 21,923 shares of Hormel Foods stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total transaction of $829,785.55. Following the sale, the chairman now directly owns 49,326 shares of the company’s stock, valued at approximately $1,866,989.10. The disclosure for this sale can be found here. Insiders have sold a total of 138,632 shares of company stock valued at $5,556,981 in the last ninety days. 1.48% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in HRL. Advisor Partners LLC boosted its holdings in Hormel Foods by 9.2% in the 3rd quarter. Advisor Partners LLC now owns 13,826 shares of the company’s stock valued at $545,000 after purchasing an additional 1,167 shares during the period. FMR LLC boosted its holdings in Hormel Foods by 2.7% in the 3rd quarter. FMR LLC now owns 46,834 shares of the company’s stock valued at $1,845,000 after purchasing an additional 1,250 shares during the period. CIBC Asset Management Inc boosted its holdings in Hormel Foods by 3.0% in the 2nd quarter. CIBC Asset Management Inc now owns 47,782 shares of the company’s stock valued at $1,778,000 after purchasing an additional 1,383 shares during the period. Amalgamated Bank boosted its holdings in Hormel Foods by 4.2% in the 2nd quarter. Amalgamated Bank now owns 34,914 shares of the company’s stock valued at $1,299,000 after purchasing an additional 1,400 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Hormel Foods by 2.8% in the 2nd quarter. Synovus Financial Corp now owns 52,252 shares of the company’s stock valued at $1,944,000 after purchasing an additional 1,402 shares during the period. 42.05% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Company Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

Read More: Tariff

Get a free copy of the Zacks research report on Hormel Foods (HRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.