Equities Analysts Set Expectations for Hormel Foods Corp’s Q3 2018 Earnings (HRL)

Hormel Foods Corp (NYSE:HRL) – Research analysts at Jefferies Group decreased their Q3 2018 earnings estimates for Hormel Foods in a note issued to investors on Tuesday. Jefferies Group analyst A. Jagdale now forecasts that the company will post earnings of $0.39 per share for the quarter, down from their prior estimate of $0.42. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Hormel Foods’ Q4 2018 earnings at $0.46 EPS, FY2019 earnings at $1.97 EPS and FY2020 earnings at $2.13 EPS.

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Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.43 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 9.92%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share.

Several other analysts also recently weighed in on HRL. Zacks Investment Research downgraded Hormel Foods from a “strong-buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies restated a “buy” rating and issued a $39.00 price objective on shares of Hormel Foods in a report on Tuesday, February 27th. Credit Suisse Group decreased their price objective on Hormel Foods from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Mizuho set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a report on Saturday, November 25th. Finally, Barclays restated a “buy” rating and issued a $38.00 price objective (down from $40.00) on shares of Hormel Foods in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $34.60.

Shares of Hormel Foods stock opened at $32.55 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.47 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $17,365.09, a PE ratio of 19.15, a P/E/G ratio of 2.08 and a beta of 0.53. Hormel Foods has a fifty-two week low of $29.75 and a fifty-two week high of $38.00.

In other Hormel Foods news, Director Elsa A. Murano sold 7,129 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total value of $256,644.00. Following the completion of the transaction, the director now directly owns 90,991 shares in the company, valued at $3,275,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven G. Binder sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $33.40, for a total transaction of $668,000.00. Following the completion of the transaction, the insider now owns 31,964 shares of the company’s stock, valued at $1,067,597.60. The disclosure for this sale can be found here. Insiders sold 32,621 shares of company stock valued at $1,109,949 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Hormel Foods by 1.8% in the fourth quarter. BlackRock Inc. now owns 20,327,330 shares of the company’s stock worth $739,714,000 after purchasing an additional 367,255 shares in the last quarter. US Bancorp DE increased its holdings in shares of Hormel Foods by 33.2% during the fourth quarter. US Bancorp DE now owns 2,046,311 shares of the company’s stock valued at $74,466,000 after acquiring an additional 510,148 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in shares of Hormel Foods by 14.0% during the fourth quarter. Honkamp Krueger Financial Services Inc. now owns 15,367 shares of the company’s stock valued at $559,000 after acquiring an additional 1,886 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Hormel Foods by 22.4% during the third quarter. Janus Henderson Group PLC now owns 96,647 shares of the company’s stock valued at $3,107,000 after acquiring an additional 17,709 shares in the last quarter. Finally, Uncommon Cents Investing LLC acquired a new position in shares of Hormel Foods during the fourth quarter valued at about $1,232,000. Institutional investors and hedge funds own 39.35% of the company’s stock.

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About Hormel Foods

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.

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

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