Q2 2018 EPS Estimates for Hormel Foods Corp Increased by Analyst (HRL)

Hormel Foods Corp (NYSE:HRL) – Investment analysts at Jefferies Group upped their Q2 2018 earnings per share estimates for Hormel Foods in a note issued to investors on Thursday. Jefferies Group analyst A. Jagdale now anticipates that the company will post earnings per share of $0.39 for the quarter, up from their prior forecast of $0.37. Jefferies Group currently has a “Hold” rating and a $34.00 target price on the stock. Jefferies Group also issued estimates for Hormel Foods’ Q2 2019 earnings at $0.42 EPS and FY2021 earnings at $2.03 EPS.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.41 billion. Hormel Foods had a return on equity of 17.87% and a net margin of 9.24%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS.

Other analysts also recently issued research reports about the company. BMO Capital Markets restated a “buy” rating and set a $38.00 price objective on shares of Hormel Foods in a report on Monday, November 6th. Zacks Investment Research upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, November 23rd. Mizuho reiterated a “hold” rating and issued a $33.00 target price on shares of Hormel Foods in a report on Wednesday, October 4th. Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. They issued an “outperform” rating on the stock. Finally, BidaskClub upgraded Hormel Foods from a “sell” rating to a “hold” rating in a report on Monday, August 14th. One equities research 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 currently has a consensus rating of “Hold” and an average target price of $35.50.

Hormel Foods (NYSE HRL) traded up $0.91 during midday trading on Monday, reaching $37.68. The company’s stock had a trading volume of 3,424,300 shares, compared to its average volume of 2,410,223. The company has a current ratio of 1.91, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19,890.00, a P/E ratio of 23.27, a PEG ratio of 2.37 and a beta of 0.65. Hormel Foods has a 12-month low of $29.75 and a 12-month high of $37.97.

Several hedge funds and other institutional investors have recently made changes to their positions in HRL. Fairpointe Capital LLC bought a new stake in shares of Hormel Foods in the 2nd quarter valued at approximately $113,723,000. Capital International Investors grew its stake in shares of Hormel Foods by 28.4% in the 3rd quarter. Capital International Investors now owns 10,634,975 shares of the company’s stock valued at $341,808,000 after buying an additional 2,350,000 shares in the last quarter. Valueinvest Asset Management S.A. boosted its position in Hormel Foods by 29.2% during the third quarter. Valueinvest Asset Management S.A. now owns 6,915,500 shares of the company’s stock worth $222,264,000 after purchasing an additional 1,563,700 shares during the period. Principal Financial Group Inc. boosted its position in Hormel Foods by 264.7% during the third quarter. Principal Financial Group Inc. now owns 1,505,505 shares of the company’s stock worth $48,387,000 after purchasing an additional 1,092,714 shares during the period. Finally, American Century Companies Inc. boosted its position in Hormel Foods by 44.2% during the third quarter. American Century Companies Inc. now owns 3,051,908 shares of the company’s stock worth $98,088,000 after purchasing an additional 936,053 shares during the period. 38.33% of the stock is owned by institutional investors and hedge funds.

In related news, insider Steven G. Binder sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $31.23, for a total value of $468,450.00. Following the completion of the sale, the insider now owns 26,838 shares of the company’s stock, valued at approximately $838,150.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Donald H. Kremin sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $31.66, for a total value of $3,166,000.00. Following the completion of the sale, the insider now directly owns 887 shares of the company’s stock, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders sold a total of 278,932 shares of company stock worth $9,245,955 in the last quarter. 3.54% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be issued a $0.1875 dividend. This is an increase from Hormel Foods’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 12th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.99%. Hormel Foods’s dividend payout ratio is currently 43.31%.

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Hormel Foods Company Profile

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

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