Hormel Foods (HRL) to Release Earnings on Wednesday

Hormel Foods (NYSE:HRL) is scheduled to announce its earnings results before the market opens on Wednesday, December 4th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Hormel Foods has set its FY 2024 guidance at 1.570-1.630 EPS and its FY24 guidance at $1.57-1.63 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Hormel Foods (NYSE:HRL) last released its earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, analysts expect Hormel Foods to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Hormel Foods Trading Up 1.6 %

Shares of HRL stock opened at $32.43 on Monday. The firm has a market capitalization of $17.78 billion, a P/E ratio of 22.84, a PEG ratio of 3.44 and a beta of 0.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. Hormel Foods has a fifty-two week low of $28.51 and a fifty-two week high of $36.86. The stock’s fifty day moving average is $31.01 and its two-hundred day moving average is $31.58.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, January 13th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, January 13th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.58%. Hormel Foods’s dividend payout ratio is currently 81.69%.

Insider Buying and Selling

In other Hormel Foods news, VP Steven J. Lykken sold 9,800 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $31.91, for a total transaction of $312,718.00. Following the sale, the vice president now directly owns 30,589 shares of the company’s stock, valued at $976,094.99. The trade was a 24.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the sale, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. This represents a 41.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,400 shares of company stock valued at $2,288,338 over the last quarter. Corporate insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reduced their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. BNP Paribas started coverage on shares of Hormel Foods in a research report on Monday, October 21st. They issued an “underperform” rating and a $28.00 target price on the stock. Finally, Stephens started coverage on shares of Hormel Foods in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.29.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.