Hormel Foods (NYSE:HRL) Releases Earnings Results, Misses Expectations By $0.01 EPS

Hormel Foods (NYSE:HRL) posted its quarterly earnings results on Thursday. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.01), MarketWatch Earnings reports. Hormel Foods had a net margin of 9.64% and a return on equity of 15.38%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. Hormel Foods’s revenue was up 3.3% on a year-over-year basis.

Shares of HRL opened at $46.93 on Friday. The stock has a fifty day moving average of $47.78 and a two-hundred day moving average of $45.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.70. The company has a market capitalization of $24.74 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 4.32 and a beta of -0.06. Hormel Foods has a fifty-two week low of $37.00 and a fifty-two week high of $51.53.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be issued a $0.2325 dividend. The ex-dividend date is Friday, July 10th. This represents a $0.93 annualized dividend and a yield of 1.98%. Hormel Foods’s dividend payout ratio (DPR) is presently 53.45%.

HRL has been the subject of several research reports. Goldman Sachs Group upgraded Hormel Foods from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $45.00 in a research report on Thursday, March 26th. Barclays lifted their price objective on Hormel Foods from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Piper Sandler downgraded Hormel Foods from an “overweight” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Tuesday, April 28th. Finally, Cfra lifted their price objective on Hormel Foods from $38.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.60.

In other Hormel Foods news, EVP Thomas R. Day sold 46,213 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $49.02, for a total value of $2,265,361.26. Following the completion of the transaction, the executive vice president now directly owns 79,010 shares in the company, valued at approximately $3,873,070.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas R. Day sold 13,787 shares of the business’s stock in a transaction on Friday, April 3rd. The shares were sold at an average price of $48.50, for a total value of $668,669.50. Following the completion of the transaction, the executive vice president now owns 46,643 shares of the company’s stock, valued at $2,262,185.50. The disclosure for this sale can be found here. Insiders sold a total of 111,380 shares of company stock valued at $5,391,665 over the last quarter. 1.15% of the stock is currently owned by insiders.

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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