Hormel Meals Co. (NYSE:HRL – Get Score) gapped down earlier than the market opened on Thursday following a weaker than anticipated earnings announcement. The inventory had beforehand closed at $50.28, however opened at $47.99. Hormel Meals shares final traded at $47.10, with a quantity of 21,129 shares altering fingers.
The corporate reported $0.40 earnings per share (EPS) for the quarter, lacking analysts’ consensus estimates of $0.41 by ($0.01). Hormel Meals had a internet margin of seven.70% and a return on fairness of 14.10%. The agency had income of $3.03 billion throughout the quarter, in comparison with analyst estimates of $Three billion. Throughout the identical quarter within the earlier yr, the enterprise posted $0.39 earnings per share. The enterprise’s quarterly income was up 6.0% in comparison with the identical quarter final yr.
Analyst Upgrades and Downgrades
A number of analysts have issued stories on the inventory. Credit score Suisse Group decreased their worth goal on shares of Hormel Meals to $44.00 in a analysis report on Friday, June third. Stephens raised their worth goal on shares of Hormel Meals from $50.00 to $55.00 and gave the inventory an “equal weight” score in a analysis report on Tuesday, August 23rd. Lastly, Piper Sandler decreased their worth goal on shares of Hormel Meals to $48.00 in a analysis report on Friday, June third. One funding analyst has rated the inventory with a promote score, seven have given a maintain score and one has assigned a purchase score to the corporate’s inventory. Based mostly on knowledge from MarketBeat, the corporate at the moment has a consensus score of “Maintain” and a mean worth goal of $48.86.
Insider Exercise
In associated information, SVP Kevin L. Myers offered 5,00Zero shares of Hormel Meals inventory in a transaction dated Tuesday, June seventh. The shares had been offered at a mean worth of $45.07, for a complete transaction of $225,350.00. Following the completion of the transaction, the senior vice chairman now straight owns 32,869 shares of the corporate’s inventory, valued at roughly $1,481,405.83. The sale was disclosed in a authorized submitting with the Securities & Alternate Fee, which is out there at the SEC web site. In associated information, SVP Kevin L. Myers offered 5,00Zero shares of Hormel Meals inventory in a transaction dated Tuesday, June seventh. The shares had been offered at a mean worth of $45.07, for a complete transaction of $225,350.00. Following the completion of the transaction, the senior vice chairman now straight owns 32,869 shares of the corporate’s inventory, valued at roughly $1,481,405.83. The sale was disclosed in a authorized submitting with the Securities & Alternate Fee, which is out there at the SEC web site. Additionally, Director Christopher J. Policinski offered 2,110 shares of Hormel Meals inventory in a transaction dated Thursday, June 23rd. The shares had been offered at a mean worth of $46.27, for a complete transaction of $97,629.70. Following the transaction, the director now straight owns 85,254 shares of the corporate’s inventory, valued at $3,944,702.58. The disclosure for this sale might be discovered right here. 0.78% of the inventory is owned by firm insiders.
Hedge Funds Weigh In On Hormel Meals
Quite a few institutional buyers have not too long ago modified their holdings of the inventory. Capital Worldwide Traders raised its stake in shares of Hormel Meals by 21.8% throughout the fourth quarter. Capital Worldwide Traders now owns 13,780,558 shares of the corporate’s inventory value $672,613,00Zero after shopping for a further 2,463,310 shares over the last quarter. CFS Funding Advisory Companies LLC raised its stake in shares of Hormel Meals by 5,067.8% throughout the first quarter. CFS Funding Advisory Companies LLC now owns 1,778,852 shares of the corporate’s inventory value $35,00Zero after shopping for a further 1,744,430 shares over the last quarter. GQG Companions LLC purchased a brand new stake in shares of Hormel Meals throughout the first quarter value roughly $57,529,000. State Road Corp raised its stake in shares of Hormel Meals by 3.8% throughout the fourth quarter. State Road Corp now owns 29,141,779 shares of the corporate’s inventory value $1,422,410,00Zero after shopping for a further 1,079,695 shares over the last quarter. Lastly, Renaissance Applied sciences LLC raised its stake in shares of Hormel Meals by 58.1% throughout the first quarter. Renaissance Applied sciences LLC now owns 2,764,663 shares of the corporate’s inventory value $142,491,00Zero after shopping for a further 1,016,300 shares over the last quarter. 39.95% of the inventory is owned by institutional buyers.
Hormel Meals Inventory Efficiency
The inventory has a market cap of $25.80 billion, a price-to-earnings ratio of 28.73, a PEG ratio of three.77 and a beta of 0.13. The inventory’s fifty day shifting common is $48.93 and its 200-day shifting common is $49.54. The corporate has a fast ratio of 1.20, a present ratio of two.28 and a debt-to-equity ratio of 0.45.
Hormel Meals Firm Profile
Hormel Meals Company develops, processes, and distributes varied meat, nuts, and meals merchandise to retail, foodservice, deli, and industrial clients in the US and internationally. The corporate operates by means of 4 segments: Grocery Merchandise, Refrigerated Meals, Jennie-O Turkey Retailer, and Worldwide & Different.
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