Equities research analysts forecast that Hormel Foods Corp (NYSE:HRL) will report $2.40 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hormel Foods’ earnings, with estimates ranging from $2.36 billion to $2.46 billion. Hormel Foods reported sales of $2.28 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The business is expected to announce its next earnings results on Thursday, February 22nd.
On average, analysts expect that Hormel Foods will report full-year sales of $2.40 billion for the current fiscal year, with estimates ranging from $9.86 billion to $9.91 billion. For the next year, analysts anticipate that the business will report sales of $10.11 billion per share, with estimates ranging from $9.86 billion to $10.30 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hormel Foods.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. Hormel Foods’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share.
Hormel Foods (HRL) traded down $0.39 during mid-day trading on Thursday, hitting $36.73. 1,002,029 shares of the company traded hands, compared to its average volume of 2,392,984. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.91. The company has a market capitalization of $19,370.00, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. Hormel Foods has a one year low of $29.75 and a one year high of $38.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 16th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.17. Hormel Foods’s dividend payout ratio is 43.31%.
In related news, insider Thomas R. Day sold 34,346 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $36.47, for a total value of $1,252,598.62. Following the completion of the sale, the insider now owns 73,770 shares of the company’s stock, valued at $2,690,391.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven G. Binder sold 50,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $34.18, for a total value of $1,709,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,686 shares of company stock valued at $5,625,515. Insiders own 3.54% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Smith Shellnut Wilson LLC ADV lifted its position in Hormel Foods by 88.3% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 11,985 shares of the company’s stock valued at $385,000 after buying an additional 5,621 shares during the period. Americafirst Capital Management LLC purchased a new position in Hormel Foods during the third quarter valued at $649,000. Belpointe Asset Management LLC purchased a new position in Hormel Foods during the third quarter valued at $383,000. IFM Investors Pty Ltd purchased a new position in Hormel Foods during the third quarter valued at $271,000. Finally, Independent Advisor Alliance lifted its position in Hormel Foods by 12.4% during the third quarter. Independent Advisor Alliance now owns 20,737 shares of the company’s stock valued at $648,000 after buying an additional 2,281 shares during the period. 38.33% of the stock is owned by institutional investors.
Hormel Foods Company Profile
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