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August 21, 2014
12:24 EDTHRL, TSNHormel hits 52-week high after Q3 results beat estimates
Shares of meat and food products company Hormel Foods (HRL) are rising after the firm's third quarter results topped analysts' consensus estimates. The midpoint of Hormel's fiscal 2014 EPS view also beat estimates. WHAT'S NEW: This morning, Hormel reported Q3 EPS of 51c and revenue of $2.28B, beating analysts' consensus estimates of 48c and $2.23B, respectively. The company said its Q3 results reflected strong demand for pork and turkey. Chairman, President and Chief Executive Officer Jeffrey Ettinger said increased sales of value-added products in its Jennie-O Turkey Store, Refrigerated Foods and International & Other segments offset a "challenging" quarter for the company's Grocery Products and Specialty Foods segments. WHAT'S NOTABLE: Looking ahead, Hormel forecast FY14 EPS of $2.17-$2.27, compared to analysts' consensus estimates of $2.19. The company sees a strong end to the year from its Jennie-O Turkey Store segment and from its International & Other and Specialty Foods segments. The impact of cost pressures in Grocery Products segment is likely to continue in the fourth quarter, and pork operating margins are not expected to be as beneficial to Refrigerated Foods, Hormel said. PRICE ACTION: In early afternoon trading, Hormel rose $2.59, or 5.41%, to $50.44 on nearly twice its average daily trading volume. The stock continues to make fresh 52-week highs as the session unfolds. Including today's advance, the stock is up approximately 20% over the past 12 months. OTHERS TO WATCH: Hormel's peer, Tyson Foods (TSN), is up around 0.4% on the session.
News For HRL;TSN From The Last 14 Days
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August 27, 2015
19:53 EDTTSNMcDonald's, Tyson Foods drop T&S Farm after animal cruelty video, Reuters says
McDonald's (MCD) and Tyson Foods (TSN) terminated a contract with T&S Farm after animal rights activists shot an undercover video showing farm workers engaging in "unacceptable animal treatment", reports Reuters citing Tyson spokesman Worth Sparkman and a statement from McDonald's. Reference Link
August 26, 2015
19:54 EDTTSNJudge overturns roughly $24M in damages against Tyson Foods, Reuters says
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August 20, 2015
19:53 EDTTSNRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
12:43 EDTHRLHormel Foods rallies after Deutsche Bank upgrade
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10:00 EDTHRLOn The Fly: Analyst Upgrade Summary
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06:12 EDTHRLHormel Foods upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Mario Contreras upgraded Hormel Foods to Buy following the company's Q3 results and raised his price target for shares to $66 from $59. Contreras is positive on the Muscle Milk cost savings and views the valuation as attractive at current levels.
August 19, 2015
07:33 EDTHRLHormel Foods sees Jennie-O Turkey Store showing y/y declines in Q4
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07:32 EDTHRLHormel Foods raises FY15 adjusted EPS view to $2.57-$2.63 from $2.50-$2.60
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07:31 EDTHRLHormel Foods reports Q3 adjusted EPS 56c, consensus 55c
Reports Q3 revenue $2.19B, consensus $2.26B.
August 18, 2015
14:15 EDTHRLHormel Foods technical notes before earnings
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August 17, 2015
13:08 EDTHRLHormel Foods August volatility elevated into Q3 and outlook
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