Analysts Expect Hormel Foods Co. (NYSE:HRL) to Announce $0.46 EPS

Brokerages forecast that Hormel Foods Co. (NYSE:HRLGet Rating) will announce earnings of $0.46 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hormel Foods’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.45. Hormel Foods reported earnings per share of $0.42 during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The company is expected to issue its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Hormel Foods will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.90 to $2.00. For the next year, analysts anticipate that the business will report earnings of $2.09 per share, with EPS estimates ranging from $2.02 to $2.15. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Hormel Foods.

Hormel Foods (NYSE:HRLGet Rating) last issued its quarterly earnings data on Tuesday, March 1st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Hormel Foods had a return on equity of 13.94% and a net margin of 7.74%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Hormel Foods’s revenue was up 23.7% on a year-over-year basis.

Several analysts have issued reports on the company. Credit Suisse Group upped their target price on Hormel Foods from $44.00 to $46.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered Hormel Foods from a “neutral” rating to a “sell” rating and set a $44.00 target price for the company. in a research note on Tuesday, March 15th. Piper Sandler upped their target price on Hormel Foods from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 2nd. StockNews.com initiated coverage on Hormel Foods in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on Hormel Foods from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.33.

In other Hormel Foods news, VP Swen Neufeldt sold 960 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $51.82, for a total value of $49,747.20. Following the completion of the transaction, the vice president now owns 23,332 shares in the company, valued at $1,209,064.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Steven J. Lykken sold 16,000 shares of the stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $50.18, for a total value of $802,880.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,636 shares of company stock valued at $2,440,842. 0.78% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HRL. Riverview Trust Co bought a new position in Hormel Foods in the first quarter worth $27,000. GHP Investment Advisors Inc. purchased a new stake in shares of Hormel Foods in the first quarter worth $27,000. Sandy Cove Advisors LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth $31,000. Whittier Trust Co. grew its stake in shares of Hormel Foods by 61.5% in the fourth quarter. Whittier Trust Co. now owns 646 shares of the company’s stock worth $32,000 after acquiring an additional 246 shares during the last quarter. Finally, Leverty Financial Group LLC purchased a new stake in shares of Hormel Foods in the fourth quarter worth $32,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

HRL traded up $0.45 during midday trading on Friday, hitting $48.26. The stock had a trading volume of 2,130,545 shares, compared to its average volume of 1,845,755. The company has a market cap of $26.30 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 3.11 and a beta of 0.09. The business has a fifty day moving average of $51.79 and a 200 day moving average of $48.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 2.19. Hormel Foods has a 1 year low of $40.48 and a 1 year high of $55.11.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Monday, April 11th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, April 8th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.15%. Hormel Foods’s dividend payout ratio is presently 61.54%.

About Hormel Foods (Get Rating)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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