Hormel Foods (NYSE:HRL) Releases Quarterly Earnings Results, Meets Expectations

Hormel Foods (NYSE:HRL) issued its quarterly earnings data on Tuesday. The company reported $0.47 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47, RTT News reports. Hormel Foods had a return on equity of 16.14% and a net margin of 10.31%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. Hormel Foods’s revenue was down .9% compared to the same quarter last year. Hormel Foods updated its FY20 guidance to $1.69-1.83 EPS.

NYSE HRL opened at $44.88 on Friday. The company has a market capitalization of $23.64 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 2.97 and a beta of 0.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.14. The business’s fifty day moving average is $41.71 and its 200 day moving average is $41.60. Hormel Foods has a fifty-two week low of $37.00 and a fifty-two week high of $45.70.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be given a dividend of $0.2325 per share. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.21. This represents a $0.93 annualized dividend and a yield of 2.07%. Hormel Foods’s payout ratio is 48.28%.

Several analysts recently commented on HRL shares. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Bank of America started coverage on Hormel Foods in a report on Friday, October 25th. They issued an “underperform” rating and a $40.00 price objective for the company. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a report on Wednesday. Stephens reaffirmed a “hold” rating and issued a $43.00 price objective (up previously from $37.00) on shares of Hormel Foods in a report on Wednesday. Finally, BMO Capital Markets set a $44.00 target price on Hormel Foods and gave the company a “hold” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Hormel Foods has a consensus rating of “Hold” and a consensus price target of $40.90.

In other news, EVP Thomas R. Day sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $44.26, for a total value of $1,327,800.00. Following the transaction, the executive vice president now directly owns 55,060 shares in the company, valued at $2,436,955.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Nakasone sold 3,962 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $43.01, for a total value of $170,405.62. Following the completion of the transaction, the director now owns 74,275 shares in the company, valued at $3,194,567.75. The disclosure for this sale can be found here. Insiders have sold 115,579 shares of company stock worth $5,050,253 over the last quarter. 1.11% of the stock is owned by company insiders.

About Hormel Foods

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Earnings History for Hormel Foods (NYSE:HRL)

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