Equities analysts forecast that Hormel Foods Corp (NYSE:HRL) will report sales of $2.37 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Hormel Foods’ earnings, with the lowest sales estimate coming in at $2.33 billion and the highest estimate coming in at $2.40 billion. Hormel Foods posted sales of $2.33 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The firm is expected to issue its next earnings results before the market opens on Thursday, May 23rd.
On average, analysts expect that Hormel Foods will report full year sales of $9.76 billion for the current year, with estimates ranging from $9.72 billion to $9.84 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.09 billion, with estimates ranging from $9.95 billion to $10.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 21st. The company reported $0.44 EPS for the quarter, hitting the consensus estimate of $0.44. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Hormel Foods had a return on equity of 17.58% and a net margin of 9.93%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share.
Shares of HRL stock traded down $0.33 during trading hours on Wednesday, hitting $39.49. 4,639,165 shares of the company’s stock were exchanged, compared to its average volume of 2,878,722. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 1.46. The stock has a market capitalization of $21.31 billion, a PE ratio of 20.89, a PEG ratio of 2.93 and a beta of 0.12. Hormel Foods has a 52 week low of $34.12 and a 52 week high of $46.26.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, July 12th. Hormel Foods’s dividend payout ratio (DPR) is presently 44.44%.
In other news, Director Glenn S. Forbes sold 4,695 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $43.00, for a total transaction of $201,885.00. Following the transaction, the director now owns 49,481 shares of the company’s stock, valued at $2,127,683. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elsa A. Murano sold 4,500 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.13, for a total value of $189,585.00. Following the transaction, the director now directly owns 101,067 shares in the company, valued at approximately $4,257,952.71. The disclosure for this sale can be found here. Insiders have sold 274,705 shares of company stock worth $12,116,336 in the last ninety days. 1.11% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Chesapeake Wealth Management acquired a new position in Hormel Foods in the first quarter valued at about $812,000. Dorsey Wright & Associates grew its stake in Hormel Foods by 4.7% in the first quarter. Dorsey Wright & Associates now owns 71,618 shares of the company’s stock valued at $3,206,000 after purchasing an additional 3,210 shares in the last quarter. Kentucky Retirement Systems grew its stake in Hormel Foods by 6.7% in the fourth quarter. Kentucky Retirement Systems now owns 11,860 shares of the company’s stock valued at $506,000 after purchasing an additional 747 shares in the last quarter. Comerica Bank grew its stake in Hormel Foods by 88.5% in the first quarter. Comerica Bank now owns 445,779 shares of the company’s stock valued at $18,611,000 after purchasing an additional 209,354 shares in the last quarter. Finally, Highwater Wealth Management LLC bought a new position in Hormel Foods in the fourth quarter valued at approximately $88,000. 44.30% of the stock is currently owned by hedge funds and other institutional investors.
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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