Q1 2019 EPS Estimates for Hormel Foods Corp (HRL) Boosted by Oppenheimer
Hormel Foods Corp (NYSE:HRL) – Research analysts at Oppenheimer upped their Q1 2019 earnings per share estimates for shares of Hormel Foods in a research note issued to investors on Tuesday, November 20th. Oppenheimer analyst R. Parikh now forecasts that the company will post earnings of $0.46 per share for the quarter, up from their prior estimate of $0.45. Oppenheimer also issued estimates for Hormel Foods’ Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.51 EPS and FY2020 earnings at $1.85 EPS.
Other research analysts also recently issued research reports about the company. Piper Jaffray Companies set a $50.00 target price on Hormel Foods and gave the stock a “buy” rating in a report on Tuesday, November 6th. ValuEngine upgraded Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Jefferies Financial Group reiterated a “buy” rating and set a $44.00 target price on shares of Hormel Foods in a report on Wednesday, August 29th. Barclays downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 target price on the stock. in a report on Friday, August 24th. Finally, Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $40.56.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 20th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis.
Several institutional investors have recently bought and sold shares of HRL. Sapphire Star Partners LP purchased a new stake in Hormel Foods during the 3rd quarter valued at $102,000. Piedmont Investment Advisors LLC purchased a new stake in Hormel Foods during the 2nd quarter valued at $118,000. Fort L.P. purchased a new stake in Hormel Foods during the 2nd quarter valued at $125,000. IMS Capital Management purchased a new stake in Hormel Foods during the 2nd quarter valued at $130,000. Finally, Moody National Bank Trust Division purchased a new stake in Hormel Foods during the 3rd quarter valued at $142,000. Institutional investors own 41.65% of the company’s stock.
In related news, VP Thomas R. Day sold 11,856 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $38.52, for a total value of $456,693.12. Following the sale, the vice president now owns 4,964 shares in the company, valued at approximately $191,213.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dakota A. Pippins sold 1,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $39.59, for a total value of $69,282.50. Following the completion of the sale, the director now owns 91,797 shares in the company, valued at approximately $3,634,243.23. The disclosure for this sale can be found here. Insiders sold a total of 138,632 shares of company stock worth $5,556,981 in the last 90 days. 1.48% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Monday, January 14th will be paid a $0.21 dividend. The ex-dividend date is Friday, January 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.19. Hormel Foods’s dividend payout ratio is presently 47.77%.
Hormel Foods Company Profile
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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.
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