Hormel Foods (NYSE:HRL) Announces Earnings Results

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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.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisor Partners LLC increased its stake in Hormel Foods by 1.8% in the 1st quarter. Advisor Partners LLC now owns 15,072 shares of the company’s stock valued at $675,000 after buying an additional 271 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hormel Foods by 0.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock valued at $2,968,000 after buying an additional 299 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in Hormel Foods by 0.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 52,150 shares of the company’s stock valued at $2,114,000 after buying an additional 315 shares during the last quarter. 6 Meridian increased its stake in Hormel Foods by 2.9% in the 2nd quarter. 6 Meridian now owns 11,386 shares of the company’s stock valued at $462,000 after buying an additional 318 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in Hormel Foods by 2.4% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 13,625 shares of the company’s stock valued at $552,000 after buying an additional 325 shares during the last quarter. 43.34% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History for Hormel Foods (NYSE:HRL)

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