Q2 2018 EPS Estimates for Hormel Foods Corp Increased by Analyst (HRL)
07 Décembre, 2017, 01:01 | Auteur: Auguste Feret
Hormel Foods Corp (NYSE:HRL) Director Robert Nakasone sold 3,184 shares of the stock in a transaction on Monday, December 4th. The company had a trading volume of 3,424,300 shares, compared to its average volume of 2,410,223. Principal Financial Group Inc. boosted its position in Hormel Foods by 264.7% during the third quarter.
A number of other institutional investors have also recently added to or reduced their stakes in HRL. Zacks Investment Research upgraded Hormel Foods from a "hold" rating to a "buy" rating and set a $39.00 target price on the stock in a report on Thursday, November 23rd. Cadence Capital Management LLC increased its position in shares of Hormel Foods by 1.0% in the second quarter. Autus Asset Management LLC raised its stake in shares of Hormel Foods Corp by 68.6% in the third quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Hormel Foods by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company's stock worth $163,000 after purchasing an additional 19 shares during the period. Finally, BidaskClub upgraded Hormel Foods from a "sell" rating to a "hold" rating in a report on Wednesday, August 2nd.
Several equities research analysts have recently weighed in on the company. The Street has a 1/2/1990 target price on the shares for the next 12-18 months. The company now has a consensus rating of "Hold" and an average price target of $35.50. Credit Suisse Group dropped coverage on Hormel Foods in a report on Saturday, August 26th. The stock has an average rating of "Hold" and an average target price of $40.50.
The consensus analysts recommendation at this point stands at 2686.91 on this stock.
In other news, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction that occurred on Monday, September 11th.
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In order to tell which way a stock is trending, the stock's share price should be compared to its moving average. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of the company's stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $34.40, for a total value of $550,400.00. Following the completion of the transaction, the insider now directly owns 887 shares of the company's stock, valued at approximately $28,082.42. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company's stock.
Hormel Foods Corp (HRL) traded up 0.83% during mid-day trading on Thursday, hitting $33.91. The company has a market cap of $19,888.57, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.44 and a beta of 0.65. Hormel Foods has a 1 year low of $29.75 and a 1 year high of $38.00.
Hormel Foods (NYSE:HRL) last posted its earnings results on Tuesday, November 21st. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $2.49 billion during the quarter, compared to analysts' expectations of $2.41 billion. Hormel Foods Corp had a net margin of 9.35% and a return on equity of 20.56%. The business's revenue for the quarter was down 5.1% compared to the same quarter a year ago. During the same period last year, the business posted $0.45 earnings per share. sell-side analysts predict that Hormel Foods will post 1.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. This represents a $0.75 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, January 12th. Louisiana State Employees Retirement System now owns 16,700 shares of the company's stock worth $570,000 after purchasing an additional 100 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Hormel Foods during the second quarter worth $189,000. Over the last quarter, insiders have sold 85,787 shares of company stock worth $2,955,553.
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Following the transaction, the director now owns 17,114 shares of the company's stock, valued at approximately $20,583,692.36. The e-commerce giant reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $1.09 by ($0.57).
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The firm has a market capitalization of $10,237.08, a price-to-earnings ratio of 32.29, a P/E/G ratio of 2.42 and a beta of 1.24. The institutional investor acquired 2,791 shares of the industrial products company's stock, valued at approximately $339,000.
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