Hormel Foods Corp (HRL) is Resumed by Credit Agricole to Underperform

Hormel Foods Corp (HRL) was Resumed by Credit Agricole to “Underperform”. Credit Agricole advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Hormel Foods Corp. Hormel Foods Corp was Downgraded by BB&T Capital Mkts to ” Underweight” on Apr 5, 2016. Hormel Foods Corp was Downgraded by Credit Agricole to ” Underperform” on Feb 18, 2016. Hormel Foods Corp was Downgraded by Jefferies to ” Hold” on Feb 17, 2016.

On the company’s financial health, Hormel Foods Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $0.37. The company had revenue of $2292.70 million for the quarter, compared to analysts expectations of $2378.60 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Hormel Foods Corp closed down -0.65 points or -1.55% at $41.17 with 34,62,420 shares getting traded on Monday. Post opening the session at $41.93, the shares hit an intraday low of $40.99 and an intraday high of $42.05 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Investors should note that on Mar 29, 2016, Hormel Foods Corp announced a cash dividend of $0.1450. The company’s management has announced Apr 14, 2016 as the ex-dividend date and fixed the record date on Apr 18, 2016. The payable date has been fixed on May 16, 2016.

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.

Hormel Foods Corp

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