Hormel Foods Corporation to Post Q1 2018 Earnings of $0.45 Per Share, KeyCorp Forecasts (HRL)
Hormel Foods Corporation (NYSE:HRL) – Stock analysts at KeyCorp issued their Q1 2018 EPS estimates for shares of Hormel Foods Corporation in a research note issued on Monday. KeyCorp analyst D. Carlson expects that the company will earn $0.45 per share for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Hormel Foods Corporation’s Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.37 EPS and Q4 2018 earnings at $0.43 EPS.
Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company earned $0.36 earnings per share. Hormel Foods Corporation’s revenue for the quarter was down 4.1% compared to the same quarter last year.
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A number of other research analysts have also recently commented on HRL. BidaskClub cut Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Zacks Investment Research cut Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Credit Suisse Group cut Hormel Foods Corporation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $39.00 to $33.00 in a research note on Friday, August 25th. Buckingham Research lowered their target price on Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 25th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $38.00 target price (down previously from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.50.
Shares of Hormel Foods Corporation (NYSE:HRL) traded down 0.401% during trading on Wednesday, hitting $31.035. The stock had a trading volume of 1,558,312 shares. Hormel Foods Corporation has a 52 week low of $29.75 and a 52 week high of $38.38. The firm has a 50 day moving average price of $31.31 and a 200-day moving average price of $33.15. The stock has a market capitalization of $16.38 billion, a price-to-earnings ratio of 19.157 and a beta of 0.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, October 20th. Hormel Foods Corporation’s payout ratio is 41.98%.
In other Hormel Foods Corporation news, Director John L. Morrison sold 24,814 shares of Hormel Foods Corporation stock in a transaction on Friday, October 13th. The stock was sold at an average price of $31.81, for a total transaction of $789,333.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dakota A. Pippins sold 4,000 shares of Hormel Foods Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $31.60, for a total value of $126,400.00. Following the transaction, the director now owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. Insiders have sold 194,518 shares of company stock valued at $6,132,366 in the last quarter. 3.54% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in HRL. Wellington Management Group LLP raised its stake in Hormel Foods Corporation by 12.8% during the first quarter. Wellington Management Group LLP now owns 58,830 shares of the company’s stock valued at $2,037,000 after buying an additional 6,661 shares during the last quarter. Teachers Advisors LLC raised its stake in Hormel Foods Corporation by 4.5% during the first quarter. Teachers Advisors LLC now owns 395,991 shares of the company’s stock valued at $13,713,000 after buying an additional 16,944 shares during the last quarter. Thrivent Financial For Lutherans raised its stake in Hormel Foods Corporation by 13.5% during the first quarter. Thrivent Financial For Lutherans now owns 11,510 shares of the company’s stock valued at $400,000 after buying an additional 1,370 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Hormel Foods Corporation by 17.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,336,211 shares of the company’s stock valued at $46,270,000 after buying an additional 200,661 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Hormel Foods Corporation during the first quarter valued at $531,000. Institutional investors and hedge funds own 38.06% of the company’s stock.
Hormel Foods Corporation Company Profile
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