Hormel Foods Co. (NYSE:HRL) – Research analysts at Oppenheimer dropped their Q1 2022 earnings estimates for shares of Hormel Foods in a research report issued on Thursday, December 9th. Oppenheimer analyst R. Parikh now anticipates that the company will earn $0.41 per share for the quarter, down from their previous estimate of $0.46. Oppenheimer also issued estimates for Hormel Foods’ Q2 2022 earnings at $0.45 EPS and Q4 2022 earnings at $0.64 EPS. Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, December 8th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Hormel Foods had a return on equity of 13.69% and a net margin of 7.98%. The company’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS.
Other equities analysts have also recently issued reports about the company. Barclays cut their price target on Hormel Foods from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 3rd. JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Friday, October 8th. Piper Sandler lifted their price objective on Hormel Foods from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets reaffirmed a “hold” rating on shares of Hormel Foods in a research report on Friday. Finally, TheStreet downgraded Hormel Foods from a “b” rating to a “c+” rating in a research report on Tuesday, September 7th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.60.
Shares of HRL stock opened at $46.00 on Monday. The stock has a fifty day moving average price of $42.66 and a 200 day moving average price of $44.78. The stock has a market cap of $24.96 billion, a PE ratio of 27.71, a P/E/G ratio of 3.22 and a beta of 0.03. Hormel Foods has a 1 year low of $40.48 and a 1 year high of $50.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.01 and a current ratio of 2.08.
A number of hedge funds have recently modified their holdings of HRL. Principal Financial Group Inc. boosted its stake in Hormel Foods by 21.5% during the 3rd quarter. Principal Financial Group Inc. now owns 5,680,665 shares of the company’s stock valued at $232,907,000 after purchasing an additional 1,005,219 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Hormel Foods by 89.8% in the second quarter. Morgan Stanley now owns 2,096,564 shares of the company’s stock valued at $100,111,000 after purchasing an additional 991,964 shares in the last quarter. Amundi purchased a new stake in shares of Hormel Foods in the second quarter valued at $46,911,000. Capital International Investors raised its holdings in shares of Hormel Foods by 6.5% during the second quarter. Capital International Investors now owns 10,997,612 shares of the company’s stock worth $525,123,000 after acquiring an additional 668,747 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Hormel Foods by 2.5% during the second quarter. State Street Corp now owns 27,135,104 shares of the company’s stock worth $1,295,701,000 after acquiring an additional 667,382 shares in the last quarter. 40.33% of the stock is owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Investors of record on Tuesday, January 18th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 14th. Hormel Foods’s dividend payout ratio is 59.04%.
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.
See Also: Discount Rate
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Hormel Foods, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hormel Foods wasn’t on the list.
While Hormel Foods currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.