Hormel (NYSE:HRL) – Stock analysts at Oppenheimer upped their FY2018 EPS estimates for Hormel in a report released on Thursday, May 24th. Oppenheimer analyst R. Parikh now anticipates that the company will earn $1.72 per share for the year, up from their previous estimate of $1.69. Oppenheimer also issued estimates for Hormel’s FY2019 earnings at $1.72 EPS.
Hormel (NYSE:HRL) last posted its earnings results on Thursday, May 24th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). Hormel had a return on equity of 17.44% and a net margin of 9.92%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year.
HRL has been the topic of several other research reports. Zacks Investment Research cut shares of Hormel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 22nd. Barclays reissued a “buy” rating and issued a $38.00 price objective (down previously from $40.00) on shares of Hormel in a research note on Friday, February 23rd. Jefferies Group reissued a “buy” rating on shares of Hormel in a research note on Thursday, February 22nd. Credit Suisse Group reissued a “neutral” rating on shares of Hormel in a research note on Sunday, February 25th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $39.00 price objective on shares of Hormel in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.60.
Shares of Hormel opened at $35.42 on Friday, Marketbeat Ratings reports. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. Hormel has a twelve month low of $29.75 and a twelve month high of $38.00. The firm has a market capitalization of $18.97 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.43.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Monday, July 16th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, July 13th. This represents a $0.75 dividend on an annualized basis and a yield of 2.12%. Hormel’s dividend payout ratio (DPR) is currently 47.77%.
In other Hormel news, Director Elsa A. Murano sold 5,992 shares of the company’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $35.50, for a total transaction of $212,716.00. Following the sale, the director now owns 82,565 shares of the company’s stock, valued at $2,931,057.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Nakasone sold 14,492 shares of the company’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $35.59, for a total transaction of $515,770.28. Following the sale, the director now directly owns 125,284 shares in the company, valued at approximately $4,458,857.56. The disclosure for this sale can be found here. Insiders have sold 281,976 shares of company stock worth $9,718,072 in the last ninety days. Insiders own 3.54% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HRL. Victory Capital Management Inc. raised its holdings in shares of Hormel by 3,639.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,421,969 shares of the company’s stock valued at $88,136,000 after purchasing an additional 2,357,198 shares during the period. Ceredex Value Advisors LLC acquired a new position in shares of Hormel during the first quarter valued at about $60,964,000. WBI Investments Inc. acquired a new position in shares of Hormel during the first quarter valued at about $27,077,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Hormel by 77.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,669,639 shares of the company’s stock valued at $57,303,000 after purchasing an additional 726,269 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of Hormel during the fourth quarter valued at about $20,735,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.
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.
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