Equities

Equities Analysts Issue Forecasts for Hormel Foods Co.’s Q1 2022 Earnings (NYSE:HRL)

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.

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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

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

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