Analysts Expect Hormel Foods Co. (NYSE:HRL) Will Post Earnings of $0.46 Per Share

Wall Street analysts expect that Hormel Foods Co. (NYSE:HRLGet Rating) will announce earnings per share (EPS) of $0.46 for the current quarter, according to Zacks. Four analysts have issued estimates for Hormel Foods’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.45. Hormel Foods posted earnings of $0.42 per share during the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The company is expected to announce its next quarterly earnings results before the market opens on Monday, January 1st.

On average, 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 financial year, analysts expect that the company will post earnings of $2.09 per share, with EPS estimates ranging from $2.02 to $2.15. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Hormel Foods.

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

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

Shares of HRL traded up $0.45 during mid-day trading on Friday, hitting $48.26. 2,130,545 shares of the company traded hands, compared to its average volume of 1,845,755. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 2.19. The stock has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $48.69. Hormel Foods has a 1 year low of $40.48 and a 1 year high of $55.11. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 3.11 and a beta of 0.09.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, April 11th were given a dividend of $0.26 per share. The ex-dividend date was Friday, April 8th. This represents a $1.04 annualized dividend and a yield of 2.15%. Hormel Foods’s dividend payout ratio (DPR) is currently 61.54%.

In other Hormel Foods news, VP Steven J. Lykken sold 16,000 shares of the stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $50.18, for a total transaction of $802,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Luis G. Marconi sold 3,493 shares of the stock in a transaction on Friday, March 4th. The shares were sold at an average price of $51.73, for a total transaction of $180,692.89. The disclosure for this sale can be found here. Insiders have sold 47,636 shares of company stock valued at $2,440,842 in the last quarter. 0.78% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HRL. Capital International Investors raised its stake in shares of Hormel Foods by 21.8% in the fourth quarter. Capital International Investors now owns 13,780,558 shares of the company’s stock valued at $672,613,000 after acquiring an additional 2,463,310 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Hormel Foods in the 4th quarter worth about $59,389,000. Scout Investments Inc. purchased a new position in Hormel Foods in the 4th quarter worth about $55,866,000. GQG Partners LLC purchased a new position in Hormel Foods in the 1st quarter worth about $57,529,000. Finally, State Street Corp increased its stake in Hormel Foods by 3.8% in the 4th quarter. State Street Corp now owns 29,141,779 shares of the company’s stock worth $1,422,410,000 after buying an additional 1,079,695 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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

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