Hormel Foods Corp (HRL) reported quarterly earnings results on Wednesday, May-18-2016. The company said it had a profit of $0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.39. The company posted revenue of $2300.00 million in the period, compared to analysts expectations of $2309.24 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.
Many Wall Street Analysts have commented on Hormel Foods Corp. Hormel Foods Corp was Resumed by Credit Agricole to “Underperform” on Apr 13, 2016. Hormel Foods Corp was Downgraded by BB&T Capital Mkts to ” Underweight” on Apr 5, 2016.
Hormel Foods Corp opened for trading at $39.86 and hit $40.36 on the upside on Monday, eventually ending the session at $40.24, with a gain of 0.85% or 0.34 points. The heightened volatility saw the trading volume jump to 29,16,837 shares. Company has a market cap of $21,324 M.
In a different news, on Apr 7, 2016, Dakota A Pippins (director) sold 2,269 shares at $42.98 per share price. According to the SEC, on Apr 6, 2016, Elsa A Murano (director) sold 6,001 shares at $42.55 per share price. On Mar 18, 2016, Thomas R Day (Group Vice President) sold 10,000 shares at $44.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products. The Company has five segments: Grocery Products which consists of the processing marketing and sale of shelf-stable food products sold primarily in the retail market; Refrigerated Foods which consists of the processing marketing and sale of branded and unbranded pork and beef products for retail foodservice and fresh product customers; Jennie-O Turkey Store which consists of the processing marketing and sale of branded and unbranded turkey products for retail foodservice and fresh product customers; Specialty Foods which consists of the packaging and sale of private label shelf stable products nutritional products sugar and condiments to industrial retail and foodservice customers and International & Other which includes the Hormel Foods International operating segment which manufactures markets and sells the Company products internationally.