Hormel Foods (HRL) Issues FY19 Earnings Guidance

Hormel Foods (NYSE:HRL) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $1.71-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.80. The company issued revenue guidance of $9.5-10.0 billion, compared to the consensus revenue estimate of $9.68 billion.Hormel Foods also updated its FY 2019 guidance to $1.71-1.85 EPS.

Several brokerages have recently issued reports on HRL. Goldman Sachs Group lowered shares of Hormel Foods from a neutral rating to a sell rating and decreased their price target for the company from $37.00 to $35.00 in a report on Tuesday, April 23rd. Zacks Investment Research raised shares of Hormel Foods from a hold rating to a buy rating and set a $47.00 price target for the company in a report on Thursday, February 28th. Jefferies Financial Group reissued a hold rating and issued a $44.00 price target on shares of Hormel Foods in a report on Thursday, February 21st. Stephens started coverage on shares of Hormel Foods in a report on Monday, March 4th. They issued an equal weight rating for the company. Finally, Credit Suisse Group reaffirmed a hold rating and issued a $39.00 price objective on shares of Hormel Foods in a research report on Thursday, February 21st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Hormel Foods currently has a consensus rating of Hold and a consensus price target of $40.20.

HRL traded down $0.09 during trading on Thursday, hitting $39.40. The company had a trading volume of 269,504 shares, compared to its average volume of 2,998,489. The stock has a market capitalization of $21.33 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.93 and a beta of 0.12. Hormel Foods has a one year low of $34.12 and a one year high of $46.26. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.04.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, May 23rd. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities research analysts predict that Hormel Foods will post 1.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.21 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.84 annualized dividend and a yield of 2.13%. Hormel Foods’s dividend payout ratio is currently 44.44%.

In other Hormel Foods news, VP Lori J. Marco sold 13,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $41.56, for a total transaction of $540,280.00. Following the sale, the vice president now directly owns 48,304 shares of the company’s stock, valued at approximately $2,007,514.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larry L. Vorpahl sold 180,000 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $44.47, for a total transaction of $8,004,600.00. Following the sale, the insider now directly owns 280,194 shares in the company, valued at $12,460,227.18. The disclosure for this sale can be found here. Insiders sold a total of 274,705 shares of company stock worth $12,116,336 over the last ninety days. 1.11% of the stock is currently owned by insiders.

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Hormel Foods Company Profile

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 and Estimates for Hormel Foods (NYSE:HRL)

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