Hormel Foods (NYSE:HRL) Updates FY 2021 Earnings Guidance

Hormel Foods (NYSE:HRL) updated its FY 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $1.650-$1.690 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.710. The company issued revenue guidance of $11 billion-$11.20 billion, compared to the consensus revenue estimate of $10.89 billion.

A number of research firms recently weighed in on HRL. Credit Suisse Group decreased their target price on shares of Hormel Foods from $45.00 to $42.00 and set a neutral rating on the stock in a report on Tuesday, September 7th. Barclays cut their price target on shares of Hormel Foods from $48.00 to $46.00 and set an equal weight rating for the company in a research note on Friday, September 3rd. Finally, TheStreet cut shares of Hormel Foods from a b rating to a c+ rating in a research note on Tuesday, September 7th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $44.80.

Shares of HRL opened at $40.80 on Friday. The stock has a market capitalization of $22.14 billion, a P/E ratio of 25.82, a PEG ratio of 3.40 and a beta of -0.07. The company has a quick ratio of 1.01, a current ratio of 2.15 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $44.81 and a two-hundred day simple moving average of $46.72. Hormel Foods has a twelve month low of $40.56 and a twelve month high of $52.51.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Wednesday, September 1st. The company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Hormel Foods had a net margin of 8.32% and a return on equity of 13.54%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Sell-side analysts expect that Hormel Foods will post 1.7 EPS for the current fiscal year.

In related news, VP Steven J. Lykken sold 22,600 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $47.61, for a total value of $1,075,986.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by company insiders.

An institutional investor recently bought a new position in Hormel Foods stock. OLD Mission Capital LLC purchased a new stake in shares of Hormel Foods Co. (NYSE:HRL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 115,580 shares of the company’s stock, valued at approximately $5,651,000. 40.48% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Company Profile

Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold in the retail market.

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Earnings History and Estimates for Hormel Foods (NYSE:HRL)

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