Hormel Foods (NYSE:HRL) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Hormel Foods (NYSE:HRL) released its quarterly earnings data on Thursday. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02, RTT News reports. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.29 billion. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. Hormel Foods’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. 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. The firm has a fifty day moving average price of $41.34 and a two-hundred day moving average price of $41.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 1.16. Hormel Foods has a one year low of $36.52 and a one year high of $46.26. The company 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.

Several research analysts have commented on HRL shares. Buckingham Research cut their price target on shares of Hormel Foods from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, May 24th. ValuEngine downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $46.00 price target on shares of Hormel Foods and gave the company a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research downgraded shares of Hormel Foods from a “hold” rating to a “sell” rating and set a $43.00 price target for the company. in a report on Friday, July 26th. Finally, Edward Jones downgraded shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $39.90.

In other Hormel Foods news, Director Robert Nakasone sold 18,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $39.89, for a total value of $718,020.00. Following the completion of the transaction, the director now directly 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 can be accessed through the SEC website. Also, VP James N. Sheehan sold 55,000 shares of Hormel Foods stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $41.55, for a total transaction of $2,285,250.00. Following the sale, the vice president now directly owns 60,000 shares of the company’s stock, valued at $2,493,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,695 shares of company stock valued at $3,601,503. Insiders own 1.11% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Hormel Foods by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,926,223 shares of the company’s stock worth $82,209,000 after acquiring an additional 9,530 shares during the last quarter. Comerica Bank lifted its holdings in shares of Hormel Foods by 88.5% during the 1st quarter. Comerica Bank now owns 445,779 shares of the company’s stock worth $18,611,000 after acquiring an additional 209,354 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of Hormel Foods by 15.6% during the 2nd quarter. Achmea Investment Management B.V. now owns 127,036 shares of the company’s stock worth $5,151,000 after acquiring an additional 17,172 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Hormel Foods by 3.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,116 shares of the company’s stock worth $1,035,000 after acquiring an additional 805 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Hormel Foods during the 1st quarter worth $242,000. 43.34% of the stock is 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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Earnings History for Hormel Foods (NYSE:HRL)

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