Hormel Foods (NYSE:HRL) issued its quarterly earnings results on Thursday. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02, RTT News reports. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Hormel Foods updated its FY 2019 guidance to $1.71-1.85 EPS and its FY19 guidance to $1.71-1.85 EPS.
Shares of NYSE HRL opened at $42.00 on Friday. Hormel Foods has a fifty-two week low of $36.52 and a fifty-two week high of $46.26. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 3.26 and a beta of 0.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.16 and a current ratio of 2.09. The firm’s 50-day simple moving average is $41.34 and its 200 day simple moving average is $41.50.
In related news, Director Robert Nakasone sold 18,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $39.89, for a total value of $718,020.00. Following the transaction, the director now owns 98,457 shares of the company’s stock, valued at approximately $3,927,449.73. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP James N. Sheehan sold 55,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $41.55, for a total transaction of $2,285,250.00. Following the completion of the transaction, the vice president now directly owns 60,000 shares in the company, valued at approximately $2,493,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,695 shares of company stock worth $3,601,503. 1.11% of the stock is owned by insiders.
A number of research firms have recently issued reports on HRL. Stephens set a $37.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Monday, August 12th. Piper Jaffray Companies set a $46.00 price objective on shares of Hormel Foods and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research cut shares of Hormel Foods from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research report on Friday, July 26th. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Edward Jones cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.90.
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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