How To Earn $500 A Month From Hormel Foods Stock Following Q2 Results
Portfolio Pulse from Avi Kapoor
Hormel Foods Corp (NYSE:HRL) reported mixed Q2 results with a 3% YoY sales decline to $2.887 billion, missing consensus estimates. Adjusted EPS was 38 cents, beating the consensus of 36 cents. Hormel revised its adjusted EPS expectation to $1.55 – $1.65. JPMorgan upgraded Hormel from Underweight to Neutral and raised the price target to $29. Hormel offers an annual dividend yield of 3.68%, translating to a quarterly dividend of 28.25 cents per share.
June 05, 2024 | 1:25 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Hormel Foods reported mixed Q2 results with a 3% YoY sales decline and adjusted EPS of 38 cents, beating consensus. The company revised its adjusted EPS expectation to $1.55 – $1.65. JPMorgan upgraded Hormel from Underweight to Neutral and raised the price target to $29. Hormel offers an annual dividend yield of 3.68%.
The mixed Q2 results and revised EPS expectations indicate some positive aspects, such as beating the EPS consensus. The JPMorgan upgrade and raised price target are likely to have a positive short-term impact on the stock price. The dividend yield of 3.68% is attractive for income-focused investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100