GME Stock – Hormel Foods (NYSE:HRL) Updates FY21 Earnings Guidance
Hormel Foods (NYSE:HRL) issued an update on its FY21 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.70-1.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.74. The company issued revenue guidance of $10.2-10.8 billion, compared to the consensus revenue estimate of $10.05 billion.Hormel Foods also updated its FY 2021 guidance to 1.700-1.820 EPS.
HRL stock traded up $3.39 during mid-day trading on Thursday, hitting $49.36. The stock had a trading volume of 6,714,825 shares, compared to its average volume of 2,495,441. The company has a current ratio of 2.38, a quick ratio of 1.67 and a debt-to-equity ratio of 0.16. Hormel Foods has a 1-year low of $43.45 and a 1-year high of $52.97. The company has a fifty day moving average of $46.92 and a 200 day moving average of $47.50. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 4.14 and a beta of -0.06.
Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 20th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Hormel Foods had a return on equity of 14.55% and a net margin of 9.45%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that Hormel Foods will post 1.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 17th. Shareholders of record on Monday, April 12th were given a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, April 9th. Hormel Foods’s payout ratio is currently 59.04%.
Separately, Zacks Investment Research upgraded Hormel Foods from a sell rating to a hold rating and set a $50.00 price target for the company in a research note on Tuesday, February 23rd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $47.00.
In related news, Director Elsa A. Murano sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $48.06, for a total transaction of $288,360.00. Following the completion of the sale, the director now owns 99,469 shares in the company, valued at approximately $4,780,480.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James N. Sheehan sold 32,400 shares of the stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $46.94, for a total value of $1,520,856.00. Following the sale, the chief financial officer now owns 48,730 shares of the company’s stock, valued at approximately $2,287,386.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,678 shares of company stock valued at $6,255,814. 0.80% of the stock is currently owned by corporate insiders.
An institutional investor recently bought a new position in Hormel Foods stock. OLD Mission Capital LLC bought a new stake in shares of Hormel Foods Co. (NYSE:HRL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 115,580 shares of the company’s stock, valued at approximately $5,651,000. 42.78% of the stock is currently owned by institutional investors.
Hormel Foods Company Profile
Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.
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