Wall Street analysts expect Hormel Foods Corp (NYSE:HRL) to announce $0.45 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Hormel Foods’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.46. Hormel Foods reported earnings of $0.47 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The company is expected to issue its next quarterly earnings report on Tuesday, November 24th.
On average, analysts expect that Hormel Foods will report full-year earnings of $1.68 per share for the current financial year, with EPS estimates ranging from $1.66 to $1.70. For the next financial year, analysts forecast that the business will post earnings of $1.80 per share, with EPS estimates ranging from $1.72 to $1.94. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Tuesday, August 25th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. Hormel Foods had a return on equity of 15.20% and a net margin of 9.59%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.38 billion. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share.
HRL stock traded up $0.39 during trading on Friday, hitting $49.28. The company had a trading volume of 1,316,814 shares, compared to its average volume of 2,356,777. The stock has a market cap of $26.59 billion, a PE ratio of 28.82, a PEG ratio of 3.99 and a beta of -0.04. The business has a 50-day moving average of $50.58 and a 200-day moving average of $48.54. The company has a current ratio of 2.39, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17. Hormel Foods has a one year low of $39.01 and a one year high of $52.97.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, October 19th will be paid a dividend of $0.2325 per share. This represents a $0.93 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, October 16th. Hormel Foods’s dividend payout ratio (DPR) is currently 53.45%.
In other Hormel Foods news, VP Lori J. Marco sold 41,714 shares of Hormel Foods stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $51.41, for a total transaction of $2,144,516.74. Following the completion of the transaction, the vice president now owns 76,302 shares in the company, valued at approximately $3,922,685.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terrell K. Crews sold 11,950 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $51.86, for a total value of $619,727.00. Following the sale, the director now directly owns 100,638 shares of the company’s stock, valued at $5,219,086.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,539 shares of company stock worth $5,861,505. Corporate insiders own 1.15% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its stake in shares of Hormel Foods by 2,838.6% in the 2nd quarter. Pacer Advisors Inc. now owns 43,609 shares of the company’s stock worth $2,105,000 after acquiring an additional 42,125 shares in the last quarter. Alpha Windward LLC purchased a new position in shares of Hormel Foods in the 2nd quarter worth approximately $74,000. Duality Advisers LP bought a new position in shares of Hormel Foods in the second quarter valued at approximately $586,000. Advisor Group Holdings Inc. purchased a new stake in shares of Hormel Foods during the first quarter valued at approximately $6,341,000. Finally, Symmetry Partners LLC bought a new stake in Hormel Foods during the second quarter worth $368,000. 42.68% of the stock is currently owned by institutional investors.
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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