Hormel Foods (HRL) to Release Quarterly Earnings on Wednesday

Hormel Foods (NYSE:HRL - Get Free Report) is scheduled to be announcing 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.Parties interested in registering for the company's conference call can do so using this link.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The firm had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business's quarterly revenue was down 2.2% on a year-over-year basis. 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 Price Performance

Shares of NYSE:HRL opened at $31.62 on Wednesday. The firm's 50 day moving average price is $31.01 and its 200-day moving average price is $31.66. Hormel Foods has a twelve month low of $28.51 and a twelve month high of $36.86. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $17.34 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 3.33 and a beta of 0.26.

Hormel Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, January 13th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.67%. This is a positive change from Hormel Foods's previous quarterly dividend of $0.28. The ex-dividend date is Monday, January 13th. Hormel Foods's dividend payout ratio is currently 79.58%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HRL shares. Citigroup reduced their target price on shares of Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, November 19th. Stephens started coverage on shares of Hormel Foods in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $31.00 target price for the company. Finally, BNP Paribas started coverage on shares of Hormel Foods in a report on Monday, October 21st. They set an "underperform" rating and a $28.00 price objective for the company. Two equities research 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $31.29.

Insider Activity

In related news, VP Steven J. Lykken sold 9,800 shares of the firm's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $31.91, for a total value of $312,718.00. Following the completion of the sale, the vice president now directly owns 30,589 shares in the company, valued at $976,094.99. This trade represents a 24.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin L. Myers sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the sale, the senior vice president now owns 39,050 shares of the company's stock, valued at approximately $1,276,935. This represents a 20.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,400 shares of company stock worth $2,288,338. 0.69% of the stock is currently owned by insiders.

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.