Published: Sat, February 25, 2017
Economy | By Melissa Porter

Hormel Shares Drop After Weak Earnings, Lower Forecast

On a per-share basis, earnings came in at 44 cents compared with 43 cents a year ago, aided by a slightly lower outstanding share count. The stock dropped -6.81% beyond one week and declined -3.42% during previous one month session. FSB ADV purchased a new position in shares of Hormel Foods Corporation during the fourth quarter valued at about $163,000. Vanguard Group Inc is the second biggest holder with 28 million shares now valued at 1.07 B million whilst State Street Corp has 16 million shares valued at 598.61 million. Shares of Hormel Foods Corporation's (HRL ) are trading -19.81% downward from the 52-week high mark and 6.88% above from the fifty two-week low mark. Revenue for the quarter was $2.3B while analysts called for revenues to be $2.3B. The firm earned $2.30 billion during the quarter, compared to the consensus estimate of $2.28 billion. Huntington National Bank now owns 4,100 shares of the company's stock valued at $156,000 after buying an additional 600 shares during the period. Wilbanks Smith & Thomas Asset Management LLC now owns 8,426 shares of the company's stock worth $320,000 after buying an additional 30 shares during the period. Earnings in refrigerated foods, led by Hormel bacon, party trays and Natural Choice meats, rose 4%. HBK Sorce Advisory LLC now owns 10,362 shares of the company's stock worth $393,000 after buying an additional 93 shares in the last quarter. Hormel Foods Corporation had a net margin of 9.35% and a return on equity of 20.56%. The 52-week low of the share price is $33.18.

Several institutional investors have recently added to or reduced their stakes in HRL.

Among analysts who offered their Analysis on Hormel Foods Corporation (NYSE:HRL)-1 analysts issued Strong buy for the stock, 3 analysts have given a Buy rating, 7 think it's a HOLD, 1 reported it as Underperform, while 0 analyst issued a Sell rating.

Key Stats: HRL anticipates earnings within the range of $1.65 to $1.71 per share for full-year fiscal 2017, as against the previously stated guidance of $1.68-$1.74 per share. The stock is trading $35.90 its 50-day moving average by 0.61%. This is the current Zacks consensus EPS which was calculated at the time of writing. The company has a market cap of $18.71 billion, a price-to-earnings ratio of 21.58 and a beta of 0.49. The reported earnings per share topped the analyst's consensus by $-0.01 with the percentage difference between estimated and actual earnings arriving at -2.20%.

Hormel Foods Corporation (NYSE:HRL) last issued its earnings results on Thursday, February 23rd. Credit Suisse Group set a $41.00 target price on shares of Hormel Foods Corporation and gave the company a "buy" rating in a research note on Wednesday, November 23rd. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Nakasone sold 18,502 shares of the company's stock in a transaction on Friday, January 6th. The shares were sold at an average price of $33.94, for a total transaction of $1,162,852.28. Sheaff Brock Investment Advisors LLC now owns 15,500 shares of the company's stock worth $567,000 after buying an additional 100 shares during the period. The disclosure for this sale can be found here.

Hormel Foods Corporation has a Price to Earnings ratio of 22.93 for the trailing twelve month period. To see more absolute value, taking notice on its price to next year's EPS that cloud be -0.16%, according to Thomson Reuter. State Treasurer State of MI now owns 94,264 shares of the company's stock worth $3,575,000 after buying an additional 400 shares in the last quarter.

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