Hormel Foods Corp (NYSE:HRL) – Investment analysts at Piper Jaffray Companies reduced their Q1 2020 earnings per share estimates for shares of Hormel Foods in a report released on Friday, August 23rd, according to Zacks Investment Research. Piper Jaffray Companies analyst M. Lavery now expects that the company will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.48. Piper Jaffray Companies currently has a “Buy” rating and a $46.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Hormel Foods’ Q2 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.50 EPS and FY2020 earnings at $1.90 EPS.
HRL has been the topic of several other reports. Stephens set a $37.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 price objective on the stock in a research report on Tuesday, August 27th. BMO Capital Markets set a $44.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research report on Friday, August 23rd. Edward Jones cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Finally, Buckingham Research lowered their price objective on shares of Hormel Foods from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $40.10.
Shares of NYSE HRL traded up $0.34 during trading on Monday, hitting $43.17. The company had a trading volume of 1,465,220 shares, compared to its average volume of 2,779,144. Hormel Foods has a 52 week low of $37.00 and a 52 week high of $46.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.09. The company has a market cap of $22.95 billion, a P/E ratio of 22.84, a PEG ratio of 3.29 and a beta of 0.06. The business’s 50-day moving average is $42.01 and its 200 day moving average is $41.48.
Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share.
Several institutional investors have recently bought and sold shares of HRL. MUFG Americas Holdings Corp purchased a new position in shares of Hormel Foods during the 2nd quarter valued at $35,000. TRUE Private Wealth Advisors purchased a new position in shares of Hormel Foods during the 2nd quarter valued at $36,000. Dougherty Wealth Advisers LLC lifted its stake in shares of Hormel Foods by 350.0% in the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. Acima Private Wealth LLC lifted its stake in shares of Hormel Foods by 64.8% in the 1st quarter. Acima Private Wealth LLC now owns 1,300 shares of the company’s stock valued at $58,000 after purchasing an additional 511 shares during the last quarter. Finally, CSat Investment Advisory L.P. lifted its stake in shares of Hormel Foods by 153.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,452 shares of the company’s stock valued at $59,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 44.34% of the company’s stock.
In other news, EVP Thomas R. Day sold 30,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the transaction, the executive vice president now directly owns 55,060 shares in the company, valued at approximately $2,436,955.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kevin L. Myers sold 2,045 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $42.80, for a total transaction of $87,526.00. Following the transaction, the senior vice president now owns 13,881 shares in the company, valued at $594,106.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,768 shares of company stock worth $4,785,629. 1.11% of the stock is currently owned by corporate 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.